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Last Modified : Jul 11, 2008 2:13 PM
Jewel Loans
 
Eligibility
Loan Amount
Margin
Rate of Interest
Processing Charges
Repayment
Security
Fair Practice Code on Lenders Liability
 
Eligibility

Individuals of all income groups
 
Loan Amount

Depending upon the value of the gold as assessed periodically.

For 22 carat gold ornaments & jewellery

 Rs.per gram
For sanction by branch heads 575
For sanction by regional heads 600

For hall marked gold ornaments and jewellary

Rs. per gram
For sanction by branch heads 600
For sanction by reginal heads 625
The limit specified above is subject to 80% of the appraised value or the rate proposed whichever is lower.
 
Margin

20%
 

Amount Slab

Rate of interest per annum
Priority/Non-Priority (Excluding Agriculture)  
Any amount 12.00% (Floating) [BPLR - 1 %]
Jewel loan for priority[except agriculture purpose]/non priority:
 

Loan Amount

Interest Rate
1 Any Amount BPLR-1%=12.00% p.a.[floating]
Jewel loan for agriculture purpose
 

Interest Rate
 

Loan Amount

Jewel Loan for Crop Production

Jewel Loan as Term loan for agriculture
1. Loans up to Rs.50,000 7.00 %( fixed)(*) 8.00%(fixed)(*)
2. Loans above Rs.50,000 and upto Rs.2lakh 7.00 % (fixed)(*) BPLR-2.50%=10.50%p.a (floating)
3. Loans above Rs.2.00lakhs and upto Rs.3.00 lakhs 7.00 % (fixed)(*) BPLR-1%=12.00%p.a (floating)
4. Loans above Rs.3lakhs BPLR-1%=12.00 %p.a (floating) BPLR-1%=12.00%p.a (floating)

* Interest rate for croploans upto Rs 3.00 lakhs disbursed from 1.4.2006 is to be charged at 7% p.a only, in view of the 2% interest subvention scheme.However,if kharif 2006 crop loans before 30.06.07,applicable interest rates should be charged, as mentioned in the above chart,after the cut off dates viz.from 1.4..07 or 1.7.07 respectively as the case may be.

* In the case of tractors financed under MOU,the rate of interest to be charged should be 0.50% less than the above mentioned applicable interest rate
 
Repayment

Loans are for a period of 12 months.
 
Security

Pledge of 22 carat gold ornaments/Hall marked Gold ornaments.
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