Gold Loans Operational Schemes
| Scheme | Tenure (Days) | Loan Limit | Interest Range |
|---|---|---|---|
| SL | 365 | Min Rs 3000 | 15.00% - 21.59% |
| TMA0 | 365 | Min 50K | 15.00% - 21.59% |
| TMA1 | 365 | Min 1L | 15.00% - 21.59% |
| TMA2 | 365 | Min 2L | 14.50% - 21.59% |
| TMA3 | 365 | Min 3L | 15.00% - 21.59% |
| TMA4 | 365 | Min 5L | 12.00% - 21.59% |
| TMA5 | 365 | Min 7.5L/10L | 11.99% - 21.59% |
| TMA6 | 365 | Min 20L | 9.90% to 21.59% |
| TMA7 | 365 | Min 25L | 9.90% - 21.59% |
| Y | 365 | Min 50L | 9.90% to 21.59% |
| SSZ-1 | 365 | Min 1L | 15.00% to 21.59% |
| SSZ-2 | 365 | Min 1.95L | 15.50% to 21.59% |
| SAL1 | 365 | Min 1.35L | 11.50% to 21.59% |
| MT+1 | 365 | Min. 1.5L/2L | 11.00% to 21.59% |
| MT+2 | 365 | Min. 1L | 12.00% to 21.59% |
| MT+3 | 365 | Min. 50K/75K | 14.00% to 21.59% |
| MT+5 | 365 | Min. 5L | 9.90% to 21.59% |
| SY | 365 | Max 1L | 17.50% to 21.59% |
| DS | 365 | Max 75K/1L | 12.00% to 21.59% |
Note
- Effective interest rate of various gold loan schemes is applicable after adjusting interest rebate on prompt monthly interest remittance by the customers. The eligibility for interest rebate is based on the interest remittance frequency and available till the end of contracted loan tenure to all customers.
- MT+1, MT+2 , MT+3 and MT+5 are takeover schemes which are takeover from Nationalized Bank, Private Bank & NBFC and Local Finance respectively.
- Penal charges will be at 2% p.a. after loan tenure.
- Compounding in all Schemes at monthly rest.
- Processing fee for gold loan shall be charged at Rs.25/- (Excl. Tax).
- Individual Exposure Limit - Maximum loan value of Rs.25 Lakh is sanctioned by Branch Head and above this limit is approved by higher authorities.
Approach for Gradation of Risk
The Lending Rate will be different for different categories of borrowers, considering profile
of the customer, tenure of customer relationship, past repayment track record, customer
segment, market reputation, inherent credit and default risk in the products, subventions
and subsidies available, ancillary business opportunities, future potential, group strength
and value to lender group, overall customer yield, Loan‐to Value (LTV) ratio, nature and
value of primary and collateral security etc. The Lending Rate is determined on a case to
case basis.