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Jewel Loans |
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%
Rate of Interest
| with effect from 16.04.2007 : |
[BPLR = 13.00%] |
| 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 |
| Any Amount |
BPLR-1%=12.00% p.a.[floating] |
Jewel loan for agriculture purpose
Interest Rate
| S.No. |
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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