The origin of gold loans traces back to south India. Moneylenders such as the Tamil Nadu Chettiars, the Shroffs and Marwaris from other areas of India, and landowners pan India have traditionally granted locals money against their gold for special occasions such as marriage.

To calculate the price of gold jewellery, multiply the gold rate per gram by the weight of the jewellery and add making charges. Then apply 3% GST on the total of gold cost plus making charges. This formula accounts for the purity and weight of gold, craftsmanship costs, and government tax. For example, a 10.5‑gram 22‑carat chain at ₹4,300 per gram with 15% making charges would cost around ₹59,660 after GST.

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If you want to take your business to the next level and you need funds. Take a look at the reasons why taking a business loan can be a good investment:

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A business loan is a borrowed amount of capital that is used for an investment in a business set-up. Here are a few reasons why business loans are a good option.

The need for capital is even more important in the case of MSMEs as well as startups. Click here to know how IIFL finance business loan will help your business to grow.

Banks and non-banking finance companies (NBFCs) typically lend against a security. This can be a physical asset of value like property or easily tradeable precious metals such as gold or silver, and also other business assets, for example, shares of publicly traded companies.

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