Girvi interest calculator
Enter the loan amount, the interest rate and the two dates. You get the interest, the total to pay, and what it would cost if the loan runs longer.
Free, with no sign-up. It runs on your phone or computer, and nothing you type is sent anywhere.
The money lent against the jewellery.
2% a month is ₹2 for every ₹100, each month.
How months are counted
Even one day into a new month counts as a whole month. A month is 30 days. This is how Sarraf AI works it.
Kind of interest
Shows what share of the item's value was lent.
Choose both dates.
Keep every loan in one place
Sarraf AI records each Girvi loan, works out the interest the same way, takes part payments, lists loans about to mature and prints the slips.
Start 7-day free trialHow the interest is worked out
A Girvi loan is money lent against jewellery, with interest charged for each month it stays out. Interest for each month is the amount lent x the monthly rate. Multiply by the number of months and you have the interest. Add the amount lent and you have the total to pay when the jewellery is taken back.
Two things change the answer: how the months are counted, and whether interest is charged on interest. The settings above let you match your own shop on both.
A worked example
A loan of ₹50,000 at 2% a month, taken back after 45 days.
- A month or part of one: 45 days is more than one month, so it is charged as 2 months. Interest is 50,000 x 2% x 2 = ₹2,000. Total to pay ₹52,000.
- Exact days: 45 days is 1.5 months. Interest is 50,000 x 2% x 1.5 = ₹1,500. Total to pay ₹51,500.
- Compound, 2 months: interest is 50,000 x (1.02 x 1.02 - 1) = ₹2,020.
Tips for keeping Girvi clean
- Write the rate, the counting rule and the due date on the loan paper, and give the customer a copy.
- Note down part payments with the date, and say whether they went to interest or to the amount lent.
- Keep a list of loans nearing their due date so that nothing slips past.
Questions people ask
How is Girvi interest worked out?
Most Girvi loans charge a flat percent of the amount lent for each month. Interest is the amount lent x the monthly rate x the number of months. With 50,000 lent at 2% a month for 3 months, the interest is 50,000 x 0.02 x 3 = 3,000.
What does "a month or part of a month" mean?
Many lenders charge a full month's interest even if the loan is taken back a few days into a new month. Here that setting counts 30 days as a month and rounds any part of one up. 45 days is charged as 2 months. Choose "Exact days" if your shop charges only for the days that passed.
What is the difference between simple and compound interest?
Simple interest is charged on the amount lent only. Compound interest is charged on the amount plus the interest already added, so it grows faster the longer the loan runs. Many Girvi loans use simple interest. Check your loan paper.
My rate is quoted per year. Can I use it?
Yes. Switch the rate to "Each year". A yearly rate is divided by 12 to get the monthly rate, so 24% a year is the same as 2% a month.
Is there a legal limit on the interest?
Rules for money lenders differ from state to state, and banks and finance companies follow their own regulators' rules. This calculator does not check any limit. It only does the arithmetic for the rate you enter.
Will this match my own loan paper or software?
It uses the same working as the Girvi screen in Sarraf AI. Other shops count months and days differently, so if your paper shows a different figure, change the counting setting to match how your shop does it. The figure on your signed paper is the one that counts.
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