Benefits of Union Bank of India Gold Loan: In emergencies, a gold loan offers urgent support by helping an individual get cash within a day. For any of the following reasons the loan may be used and more:

  • Gold loan can be used to finance children’s schooling.
  • May be useful for extending the requirement of the company or working capital.
  • Improving farming by purchasing irrigation machines and other necessities
  • A gold loan can be a savior when a medical disaster occurs.
  • To receive an emergency fund while driving
  • Offer the idea to use your own money to meet your needs

The Gold Loan EMI is a fixed sum charged to Union Bank of India to repay the loan you get. The EMI will be billed on a set day per month before the final settlement of the Gold Loan. The smallest EMI you pay per lakh to the Union Bank is Rs. 0.


Union Gold EMI loan consists of principal payment of interest and payment of interest. In the early years, the loan interest portion is greater than the key component. EMI stays stable throughout the entire payment cycle, but the interest portion on the debt tends to decline and the key aspect begins to rise apart from the interest rate increase on gold loans.

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In the event of a percentage increase in the Union Bank of India, you have two choices, namely:

  • Keep EMI constant and adjust the tenure of the loan
  • Decrease the EMI and retain the loan term

If you are paying the gold loan in advance to the Union Bank of India, you get the same option to hold the EMI same, reducing the loan value or reducing the EMI and holding the period similar.

Union Bank of India Gold Loan – Features:

  • Objective: The Gold Loan from the Union Bank of India gives customers a perfect way to fulfill certain personal requirements including marriage, schooling, growth of the business, etc.
  • Maximum credit amount: The borrower may receive up to INR 20 Lakhs for a gold loan from the Union Bank of India.
  • Interest rate: The Union Bank of India’s interest rate for a gold loan is MCLR for 1 year+ 2.40%.
  • Storage: Gold jewels provided as security to the bank are kept conveniently in the locker of the borrower and may be recovered upon settlement of the complete loan.
  • Gold Loan per gram: The gold loan per gram goes from INR 1755 to 2145, subject to adjustment on account of the pureness of the gold and the price of the industry.

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Gold Calculator Formula of Union Bank of India:


Union Bank of India Gold EMI depends on the amount of the loan, interest rate, and tenure of the loan.

The calculator of a gold loan is quick and easy to use, which provides the loan sum you earn on the basis of your results.

Information on tenure, gold carat in grams, and gold weight must be given. The gold loan calculator measures the amount and other information about the loan you have provided and generates. Even you can add more than one jewels and the loan value.