Sl. No Details Guidelines
1. Name of the Product Jewel loans non Agri
2. Purpose

To meet any genuine Credit requirements

3. Quantum (per party)

For non-priority purpose maximum loan of Rs 10.00 lakhs AND Business purposes maximum of Rs. 20.00 lakhs.

4. Scale of Finance

70% of Net Gold Value OR Scale of Finance per gram of 22 carat gold conveyed by HO from time to time, whichever is less

5. Margin

30% for loans upto 20.00 lakhs

6. Rate of Interest

11 % p.a. AND overdue interest 2% over and above the normal rate

7. Repayment

The tenor of the loan shall not exceed 12 months from the date of sanction with repayment holiday of 11 months

8. Cutback

60% of gross salary for Salaried class
60% of previous 3 years Average Gross Annual Income for non salaried class

9. LTV Ratio

LTV Ratio shall not exceed 75% of the value of the pledged Gold Jewellery at any point of time during the tenure of the loan