| हिन्दी | Color Theme
Last Updated on 22/02/2018
Agricultural Jewel loans

Agricultural Jewel Loans

Objective

This is a package designed for farmers to avail loan for Agricultural purpose against security of their gold Jewellery.

Eligibility

Individual farmers who own jewels and are engaged in Agricultural activities are eligible.

Purpose

To meet the short term credit requirements for cultivation of crops.

Quantum of Loan:

You can contact our nearest branches for per gram rate of advance against gold ornaments.

Security

Pledge of gold Jewellery.

Repayment

Within one year.

Holiday Period

NA 

Rate of Interest

For loans below Rs.3 Lakhs:

Ø  The interest rate for short term production credit component upto Rs.3.00 lakhs for One year form date of sanction/ renewal of the limit is 7% p.a. subject to availability of interest subvention from GOI.

Ø  Incentive subvention of 3% is also available for the short term production credit upto Rs.3.00 lakhs, subject to prompt payment within the period of One year form date of Sanction/renewal.

For loans above Rs.3 Lakhs - Varies from Time to time. Presently one year MCLR+2.50%.

For other details, please contact your nearest IOB branch.