Gold Loan - Operational Scheme

Gold Loans Operational Schemes

Customers ! Please avail special rebate immediately on regular payment of interest on the loan on certain schemes only. Refer table shown below

Scheme Name Loan Tenure Slab Rate of Interest (p.a.) Maximum amount permitted per customer
In Kerala State Annualized Interest Rate In Other States Annualized Interest Rate
GL-DS Scheme 90 Days 0 - 30 days 12.00% 22.03% 12.00% 22.03% Minimum loan value is Rs.5,000/- and Maximum loan value is Rs. 30,000/-
31- 60 days 25.00% 25.00%
61- 90 days 28.00% 28.00%
GL-SY Scheme 90 Days 0 - 30 days 18.50% 24.30% 18.50% 24.30% Maximum loan amount limited to Rs. 100,000/-
31- 60 days 25.00% 25.00%
61- 90 days 28.00% 28.00%
Privilege Loan
(GL-PL)*
90 Days 0 - 30 days 20.50% 26.21% Subject to individual exposure limit fixed
31 - 60 days 27.50%
61- 90 days 29.00%
Express Gold Loan Plus
(GL-XG+)
180 Days 0 - 30 days 21.50% 28.73% 25.50% 29.47%
31- 60 days 27.50% 27.50%
61- 180 days 28.50% 28.50%
Super Loan Plus
(GL-SG+)
270 Days 0 - 30 days 21.50% 29.72% 25.50% 30.25%
31- 60 days 27.00% 27.00%
61- 270 days 28.00% 28.00%
Samadhan Plus
(GL-SA+)
365 Days 0 - 30 days 21.50% 31.09% 25.50% 31.52%
31- 60 days 27.00% 27.00%
61- 365 days 28.00% 28.00%
Swarna Shakthi (GL-SX) 90 Days 0 - 30 days (Applicable only in Tamilnadu, A&N and Pondichery) 25.00% 27.78%
31- 60 days 27.50%
61- 90 days 29.00%
90 Days 0 - 30 days (Applicable only in Karnataka, Telengana, AP, J&K, Chandigarh, Punjab, Gujarat, Goa & Delhi) 25.50% 27.95%
31- 60 days 27.50%
61- 90 days 29.00%
90 Days 0 - 30 days (Applicable only in **Tier 1 branches in Northern states) 25.50% 27.95%
31- 60 days 27.50%
61- 90 days 29.00%
90 Days 0 - 30 days (Applicable only in Northern branches other than **Tier 1 branches) 26.50% 28.30%
31- 60 days 27.50%
61- 90 days 29.00%
GL B1+N 90 Days 0-30 days 20.00% 25.17% 23.00% 26.21% Subject to individual exposure limit fixed (Minimum Loan value for B1+N : 2 Lakhs, B1-N : 5 Lakhs, B2+ : 10 Lakhs & H3+ : 25 Lakhs)
31-60 days 26.00% 26.00%
61- 90 days 28.00% 28.00%
GL B1-N 90 Days 0 - 30 days 19.00% 23.43% 20.00% 23.78%
31 -60 days 24.00% 24.00%
61- 90 days 26.00% 26.00%
GL B2+ 90 Days 0-30 days 17.00% 21.36% 18.00% 21.71%
31-60 days 22.00% 22.00%
61-90 days 24.00% 24.00%
GL H3+ 90 Days 0-30 days 15.00% 19.29% 15.00% 19.29%
31-60 days 18.00% 18.00%
61-90 days 24.00% 24.00%
Business Loan (GL BL) 90 Days 0-90 days 24.00% 24.48% 24.00% 24.48% Minimum Loan value : 50 Lakhs.
GL B4+ 90 Days 0-90 days 15.00% 15.19% 15.00% 15.19% Subject to individual exposure limit fixed

Rebate in Gold loan Scheme

a. For regular monthly interest paying customers, the initial interest rate will be continued during the loan tenure.

b. OGL registered customers will get attractive interest rate rebate by repledging via online mode in BL/PL/SX schemes based on the repledge frequency as follows:

    i.  4 repledges in every 15 days from the inventory created date - 10% interest Rebate (PL-8.5%, BL-14.10%)
    ii.  3 repledges in every 15 days from the inventory created date - 6% interest Rebate (PL-5.5%)
    iii. 2 repledges in every 15 days from the inventory created date - 4% interest Rebate (PL-2.5%)
    iv. 2 repledge in every 30 days from the inventory created date (1st repledge in 1-15 days & next repledge in 16-30 days) - 2% interest Rebate (PL-1.5%)
    v. 1 repledge in every 30 days from the inventory created date - 1% interest Rebate

Note

Approach for Gradation of Risk

The process of gradation of risk and interest determination is primarily based on the details/attributes of the loan scheme, say, LTV, tenure of the loan and the amount of loan extended. As a result, higher the risk perceived for a loan, based on assessment of the said factors the interest rates are likely to be higher and vice versa. For example, for the loans with lesser tenure (e.g. SX scheme) the risk perceived is higher and thus maximum interest rate is applied.

For further details contact nearest branch. For a branch near you, log on www.manappuram.com/branchlocator