Enter the per-gram rate your jeweller is using. We'll show the markup over live spot and recompute the breakdown.
per g · INR
Live spot: — · Jeweller's rate: —
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Know the fair price before you make the purchase
GST on gold jewellery
Mandatory in India on all purchases
3%
Other charges
Wastage, hallmarking, or extras your jeweller adds
Enter the total price your jeweller quoted. We'll show you how it compares to the fair estimate.
Estimated fair price breakdown
Gold value (metal only)
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Making charges
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GST3% on gold + making charges
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Other charges
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You should pay approximately
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Compare this estimate with your jeweller's invoice before paying. The gold value is based on the latest live bullion rate — your jeweller may use a slightly different benchmark.
Email me this calculation
Get a clean copy for your records — useful at the counter, or to compare quotes later. The email includes a one-tap link to save it straight to a private vault on MyAurum.
One email. We don't add you to a list, don't sell this to anyone, don't run ads on it.
Once you've bought, record it in MyAurum — weight, purity, price paid. Your family will always know exactly what it's worth.
A note on what you'll see: MyAurum tracks holdings at LBMA spot — the global commodity benchmark. The retail price you pay (LBMA + duty + GST + jeweller's margin) is stored as your cost basis, so on day one the "vs purchase price" comparison may show a small negative — that's the retail premium you paid, not commodity loss. As gold appreciates, the gap closes.
Before you sell — know your floor price
Before you bequeath — value it for your family
BIS hallmark stamped
Visible BIS mark on the piece. Mandatory on Indian gold since 2021 — older pieces may not have it.
MyAurum · Floor Price
Don't accept less than
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A fair offer: —
Today's metal value at spot: —
What jewellers will try to deduct
Know these before you walk in — most are negotiable, some you should refuse outright.
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Making charges as "remelt loss"Making was your cost when you bought the piece — not their loss when they buy it back. Push back, especially at your original jeweller.
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Aggressive stone-weight estimatesAsk them to weigh stones separately on a digital scale. The standard "we'll deduct 15%" claim is rarely accurate — typical stones are 2–5% by weight.
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Karat downgrade on unhallmarked piecesThey should test the karat (acid test or XRF), not assume it's lower. If they refuse to test before quoting, walk away.
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A different per-gram rate than they sell atSome shops post one rate for selling-to-you and a quieter, lower rate for buying-from-you. Ask for the buyback rate before they weigh anything.
Email me this estimate
Email me this valuation
Get a clean copy of your floor price and the watch-outs — useful at the counter, or to compare offers from multiple jewellers. The email includes a one-tap link to save it into a private vault on MyAurum.
Get a clean valuation for your records — useful for insurance, family files, or just to know. The email includes a one-tap link to save it into a private vault on MyAurum.
One email. We don't add you to a list, don't sell this to anyone, don't run ads on it.
Lock this estimate before you walk in — then record what you actually got, so you have a clean number for tax, estate, and the next visit.
Before you take a gold loan — how much can you raise?
RBI's LTV tiers are ₹-denominated. In non-INR currencies the tier boundaries are converted for display; the loan amount is still capped in ₹ by the lender.
Lenders assess only the gold. Stones, beads and thread are deducted before valuation — usually by weighing separately or by a percentage estimate.
Most Indian jewellery is 22K. RBI directive requires lenders to consider only fine gold content — a 22K piece is valued as 91.6% of its gross weight at the 24K reference rate.
Maximum eligible loan
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Collateral value at today's IBJA rate
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RBI LTV tiers (April 2026)
Up to ₹2.5L loan
85% LTV
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₹2.5L – ₹5L loan
80% LTV
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Above ₹5L loan
75% LTV
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Typical interest rates (Sept 2026)
Banks (SBI, HDFC, ICICI, Kotak)
9.5% – 14% p.a.
NBFCs (Muthoot, Manappuram, IIFL)
12% – 24% p.a.
Approximate monthly interest at 11% p.a.: —. Actual EMI depends on tenor and repayment structure — most gold loans run 3-12 months, and interest may be paid monthly or as a bullet at closure.
Where to actually get the loan
Banks
SBI · HDFC Bank · ICICI Bank · Kotak Mahindra Bank · Axis Bank · Federal Bank · IndusInd
Under the RBI April 2026 directive, all of the above apply the same LTV caps. What differs is interest rate, disbursement speed, and processing fee. Banks are typically cheaper and slower; NBFCs are typically pricier and faster.
This is an estimate. The actual amount you'll be offered depends on the lender's valuation methodology (weight scale, purity test, stone deduction), your credit profile, and the tenor you choose. Every RBI-regulated lender will apply the same LTV caps, but they can, and do, offer less than the maximum.
Gold loans are secured against your piece — default risk is real. Lenders can and will auction the collateral if you miss repayments. Never pledge jewellery you can't afford to lose.
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Common questions
Gold pricing, plain-spoken — what jewellers do and don't include in your bill.
Gold loans, plain-spoken — what the RBI April 2026 directive actually says, and how banks and NBFCs differ.
How is the fair price of gold jewellery calculated?
The fair price has three parts: the metal value (live gold rate × weight × purity), the jeweller's making charge (usually a percentage of the metal value), and 3% GST if buying in India. This calculator uses live bullion rates that mirror what Indian jewellers price against.
What gold price benchmark does this calculator use?
Live international spot prices, refreshed every 5 minutes. For Indian rupee pricing, the calculator applies the typical premium that local bullion benchmarks carry over spot — so the result tracks what jewellers are pricing against on a given day.
What is making charge — and what's a fair amount?
Making charge is the jeweller's fee for crafting the piece, expressed as a percentage of the metal value. Simple machine-made pieces are usually 6–10%. Standard hand-finished work is 10–15%. Bridal and intricate sets often run 20% or more — confirm the rate before agreeing to a piece.
Why does my jeweller's quote differ from this estimate?
Common reasons: a slightly different benchmark rate (each shop adds a small markup over the day's bullion rate), wastage charges layered on top of making, a flat per-piece hallmarking fee, or a different making percentage than you'd assumed. Always ask for an itemised invoice and compare line by line.
What is BIS hallmarking?
BIS Hallmark is the government-mandated purity stamp for gold jewellery in India, required on every piece sold since 2021. It encodes the karat purity, the BIS logo, the assay centre code, and the jeweller's identification mark. Hallmarking costs a flat ~₹45 per piece, regardless of weight.
Why is GST 3% on gold in India?
GST on gold jewellery in India is 3%, applied to the gold value plus making charges. It's mandatory on every retail purchase. The calculator includes it by default in INR mode and hides it in other currencies.
How much loan can I get against gold in India?
The maximum loan depends on the fine-gold weight of your jewellery, the IBJA reference rate on the day you pledge, and the RBI's April 2026 tiered LTV directive: 85% up to ₹2.5 lakh, 80% for ₹2.5-5 lakh, 75% above ₹5 lakh. The tier is decided by the loan amount, not the collateral value — so a ₹3 lakh collateral piece caps at 80% (₹2.4 lakh), not 85%.
What is the RBI April 2026 gold loan directive?
The Reserve Bank of India's April 2026 directions on lending against gold and silver collateral set standard LTV caps for all regulated lenders — banks and NBFCs alike: 85% for loans up to ₹2.5 lakh, 80% for ₹2.5-5 lakh, 75% above ₹5 lakh. Lenders must use the IBJA reference rate for valuation, and can consider only the fine-gold content of the piece (stones, beads and thread must be deducted).
Which rate do banks and NBFCs use to value gold for a loan?
The IBJA (India Bullion and Jewellers Association) reference rate for 999 fine gold is the mandatory benchmark under the RBI directive. Lenders convert your piece's gross weight to pure-gold weight using its karat (22K = 91.6%) and multiply by the IBJA rate to arrive at the collateral value. That value, times the tier LTV, is your maximum loan.
How do bank and NBFC gold loan rates compare?
Banks — SBI, HDFC, ICICI, Kotak, Axis, Federal — typically charge 9.5-14% per annum on gold loans. NBFCs like Muthoot Finance, Manappuram, IIFL and Rupeek charge 12-24%, but disburse faster (sometimes within an hour). Under the RBI 2026 directive, both apply identical LTV caps; interest rate, processing fee and disbursement speed are where they compete.
What happens to my gold if I can't repay?
Gold loans are secured against the pledged jewellery. If you default, the lender is legally entitled to auction the collateral to recover their dues — usually after multiple demand notices spread over 60-90 days. Any surplus after settling the loan, interest and charges is returned to you, but you lose the piece. Never pledge jewellery you can't afford to lose.
Are stones and beads counted in the loan valuation?
No. Lenders assess only the gold content. Stones, beads, thread, kundan work and enamel are deducted from the gross weight before the collateral is valued — either by weighing them separately or by applying a percentage estimate (usually 10-25% depending on the piece). Heavy bridal work can lose a third of gross weight to inclusions.
What is the maximum tenure for a gold loan?
Most gold loans run between 3 and 36 months. Banks offer longer tenures (up to 36 months); NBFCs often prefer shorter ones (3-12 months) with faster turnover. Interest may be paid monthly or as a bullet at closure, depending on the product structure — the "overdraft" variants are typically cheaper if you're disciplined.
Do gold loans need a credit-score check?
Gold loans are secured, so most lenders don't require a formal credit check. Banks may still pull a credit report to size the loan or set the interest rate; NBFCs often skip this step for smaller loans. The pledged gold, not your credit profile, is the primary security — which is why gold loans are one of the easiest options for people with no credit history.
Jewellers add a markup to the bullion rate before making charges enter the picture. With a MyAurum account, enter their quoted rate and see what the rate alone is costing you — alongside live spot, for reference.
One account works for both the calculator and the MyAurum vault.