JEWEL LOANS WITH BULLET REPAYMENT

JEWEL LOANS WITH BULLET REPAYMENT

Sl. No Details Guidelines
1. Name of the Product Jewel loans bull Rep
2. Purpose

All purposes under Non Priority (Personal) against pledge of gold.

3. Quantum (per party)

Maximum Upto Rs. 2.00 lakhs

4. Scale of Finance

70 % of Net value OR scale of finance per gram of 22 carat gold conveyed by HO from time to time, whichever is less and to ensure LTV of 75% throughout the tenure of the loan

5. Margin

30%

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. 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