Any person with assured monthly Income acceptable to the Bank. Gold loan will be granted to Associate and Regular Members of the Bank at the discretion of the Branch Manager or the Officer authorized by the Board from time to time. Such a person should be a good and regular customer of the Bank or others who are introduced as per KYC norms.
Rate of interest
SLAB
ROI
Agricultural and MSME
Existing
8.50%
New Rate
9.00%
with effect from 01-07-2024
upto Rs. 4,00,000/- (1 year)
9.50%
above Rs.4,00,000/-
9.50%
Margin
Maximum permissible loan will be 75% of the 30 days avarage market value.
Other Terms
Membership is necessary for the borrower to avail this loan.
Terms and Conditions:
No processing charges for the Jewel Loans above Rs 4 lakhs repayable in monthly instalments. However, Jewel Appraiser fees is to be collected from the borrowers.
In respect of all Jewel Loans above Rs 4 lakhs, branches have to fix monthly instalments for repayment while sanctioning such loans.
No processing charges for Jewel Loans aggregating to above 4 lakh.
For re-pledge of same Jewels for Jewel Loan, a maximum of Rs 150/- as Jewel Appraisers fees is to be collected from the borrowers.
