IOB GOLD LOAN - "WORTH A WHILE WITH GOLDEN SMILE"
- Gold Loan for All Your Needs
- Express Speed of Sanction
- Lower Processing Charge
- Competitive Interest Rate
- No Closure Charges
- No Documentation Charges and Many More....
- Age: 18 years and above
- Any individual owning gold ornaments/Jewellery/Coins.
- Loans can be granted against gold ornaments/Jewellery and specially minted pure gold coins sold by our bank/other bank. The total weight of the coins should not exceed 50 grams per customer.
- Existing as well as new customer, whose willingness to open account with us.
| Loan Type |
Details |
|
Agricultural Jewel Loan
|
- Purpose: To meet Short-term production credit needs of farmers.
- Limit: Maximum limit per borrower Rs. 10 lakhs.
- Repayment: Bullet payment in one year.
|
|
Agriculture Term Loan - Jewellery
|
- Purpose: to meet Investment credit needs of farmers.
- Limit: Maximum Limit Per Borrower Rs. 25 Lakhs.
- Repayment: Maximum 3 Years in Monthly/Quarterly/Half Yearly/Yearly.
|
|
SME Gold
|
- Purpose: to meet investment need in MSME - Manufacturing, Services and Retail Trade sectors.
- Limit: Maximum limit per borrower of Rs. 5 Lakhs.
- Repayment: Bullet payment in one year
|
|
Jewel Loan - Others
|
- Purpose: to meet domestic/business needs.
- Limit: Maximum limit per borrower of Rs. 25 lakhs.
- Repayment: For loan upto 5 Lacs -bullet payment in one year and for loan above 5 lacs-in monthly EMIs with maximum 35 months.
|
|
IOB Swarnalakshmi
|
- Purpose: To meet domestic needs of Women customers (i.e. non-productive purpose), who is having saving/ current Account with us.
- Limit: Maximum limit per borrower of Rs. 5.00 Lakhs.
- Repayment: Loan to be repaid within a period of 12 months as bullet payment - both principal and interest due for payment at the end of the term.
- Free Insurance: A free accidental insurance cover of Rs.2 Lacs under PMSBY to individual women beneficiaries for First time.
|
|
IOB Swarna Samridhi
|
- Purpose: To meet short term credit requirement for crop cultivation, land development activities, investment activities & activities allied to agriculture.
- Target Group: Agriculturists/Farmers who are owner cultivators, tenant farmers, oral lessees & sharecroppers engaged in crop cultivation, land development activities, investment activities & activities allied to agriculture.
- Age: Minimum 18 years
- Quantum of Loan: Maximum Loan amount per borrower – Rs. 10 Lakhs
- Margin: Nil
- Security: Hypothecation of assets created out of the Loan. Pledge of Gold ornaments
- Assessment: For Crop Cultivation purpose – Prevailing per gram advance rate or Loan amount as per scale of finance whichever is lower.
- For Agri allied and ancillary activities – Prevailing per gram advance rate or Loan amount arrived as per project cost whichever is lower
- Repayment: Loan to be repaid within a period of 6 months as bullet payment – both principal and interest due for payment at the end of the term
- Interest Rate: Loan to be repaid within a period of 6 months as bullet payment – both principal and interest due for payment at the end of the term
- Processing Charges: 0.15% of the loan for loan upto Rs. 10.00 lakhs with minimum of Rs. 150/-
- Documents Required: Form 89E (View), Annexure (View)
|
|
Rate of Interest for Various Jewel Loan Schemes Charged by Our Bank.
Present MCLR: 8.65% Present RLLR: 9.35%
|
|
Types of Jewel Loan Schemes
|
SLAB
|
ROI
|
|
KCCJL
(Agricultural Jewel Loan)
|
Up to Rs. 3 Lacs
|
With Interest Subvention under KCC
|
7% (For Prompt Payment Additional Subvention of 3%).
|
|
Without Interest Subvention
|
MCLR+0.90%
|
|
Above Rs. 3 Lacs up to Rs. 10 Lacs
|
MCLR+2.50%
|
|
AGTAJ
(Agriculture Term Loan - Jewellery)
|
Maximum Up to Rs. 25 Lacs
|
RLLR – 0.85%
|
JL-Others (Jewel Loan - Others) |
Maximum Up to Rs. 25 Lacs |
RLLR-0.50% |
SME GOLD |
From Rs. 25,000/ to Rs.25 Lacs |
RLLR - 0.50% =8.85%
Cash credit:- RLLR-0.40%=8.95% |
JLSWL (Women Borrowers) |
Up to Rs. 5 Lacs |
MCLR +SP (0.20%) +RP (0.05%) = 8.90% |
IOB SWARNA SAMRIDHI |
Maximum up to Rs. 10 Lakhs |
Six-Month MCLR i.e. 8.55% presently, penal interest of 2% to be charged for the overdue portion |
Jewel Loan Advance Lending Rate Per Gram from 03.08.2023
Amt in Rs.
| Type of Jewel Loan |
Carats |
Existing |
Revised |
Agri Jewel Loan |
24 Carats Gold Coins issued by Banks
& 22 Carats Hall Mark Jewellery |
4310 |
4310 |
22 Carats Ordinary Jewellery |
4250 |
4280 |
20 & 21 Carats Ordinary Jewellery |
3900 |
3900 |
18 Carats Ordinary Jewellery |
3320 |
3300 |
Non-Agri Jewel Loan |
24 Carats Gold Coins issued by Banks
& 22 Carats Hall Mark Jewellery |
4050 |
4050 |
22 Carats Ordinary Jewellery |
4000 |
4000 |
20 & 21 Carats Ordinary Jewellery |
3650 |
3670 |
18 Carats Ordinary Jewellery |
3320 |
3300 |
IOB SWARNA SAMRIDHI (Agri Jewel Loan) |
24 Carats Gold Coins issued by Banks
& 22 Carats Hall Mark Jewellery |
4570 |
4570 |
22 Carats Ordinary Jewellery |
4520 |
4530 |
20 & 21 Carats Ordinary Jewellery |
4150 |
4150 |
Soveriegn Gold Bond |
24 Carats Gold |
NA |
3518 |