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Gold Loan - Operational Scheme
  • Operational Schemes

Gold Loans Operational Schemes





 
S.NO. SCHEME NAME LOAN LIMIT LOAN TENURE
EFFECTIVE
INTEREST RATE
AFTER REBATE
(P.A.)		 REBATE %(RANGE) INTEREST RATE ANNUALISED
INTEREST RATE		 BR. CATEGORY*     
1 SX MIN. RS 1000 180-365 Days 24% 1% - 2% 26% 27.43%-29.33% S
2 PL* MIN. Rs 1000 180-365 Days 20% 1% - 6% 26% 27.43%-29.33% S (KERALA)
3 TMA1 1 LAKH - 2 LAC 180-365 Days 19.5% 1% - 6.5% 26% 27.43%-29.33% S
4 TMA 2 2 LAC - 3 LAC 180-365 Days 18.5% 2% - 7.5% 26% 27.43%29.33% S
5 TMA 3 3 LAC - 4 LAC 180-365 Days 17.5% 2% - 8.5% 26%  27.43%-29.33% S
6 TMA 4 4 LAC - 5 LAC 180-365 Days 16.5% 3% - 9.5% 26%  27.43%-29.33% S
7 TMA 5   5 LAC - 20 LAC 180-365 Days 11.9% 2% - 14.1% 26%  27.43%-29.33% S
8 TMA 6 ABOVE 20 LAC 180-365 Days 9.90% 2% - 16.1 % 26%  27.43%-29.33% S
9 MBL* MIN. Rs 1000 180 Days 9.90% 2% - 16.1 % 26% 27.43%  S
10 SS2-1 MIN. 1 LAKH 365 Days 15.50% 1%-10.5% 26% 29.33%  S
11 SS2-2 MIN. 1.95 LAC 365 Days
14.5% 1% - 11.5% 26% 29.33%  S
12 SS2-3 MIN. 3 LAC 365 Days 13.50% 1% - 12.5% 26% 29.33%  S
13 SS2-4 MIN. 4 LAC 365 Days 12.50% 1% - 13.5% 26% 29.33%  S
14 SS2-5 MIN. 5 LAC 365 Days 10.90% 1% - 15.1% 26% 29.33%  S
15 SA+1 MIN. 1.95 LAC 365 Days 9.90% 2% - 16.1% 26% 29.33%  S
16 MT+1 MIN 1.99 LAC 180-365 Days 9% 2% - 17% 26% 27.43%  S
17 MT+2 MIN 1.99 LAC 180-365 Days 12% 2% - 14% 26% 27.43% S
18 MT+3 MIN 1.99 LAC 180-365 Days 14% 2% - 12% 26% 27.43% S
19 SY  MAX. 2 LAC 180 Days 20.5% 4%-7.5% 28% 29.66%   S
20 DS MAX. 75000 180 Days 12% 2% - 14% 26% 27.43%   S
'A' CATEGORY     
1 SX MIN. RS 1000 180-365 Days 24%  1% - 2% 26% 27.43%-29.33% A
2 MA1 MIN. 1 LAKH 180-365 Days 23% 1% - 3% 26% 27.43% A
3 MKL-1 MIN. 1.95 LAC 180-365 Days 20% 2% - 6% 26% 27.43% A
4 MKL-2 MIN. 3 LAC 180-365 Days 19% 2% - 7% 26% 27.43% A
5 MKL-3 MIN. 4 LAC 180-365 Days 18% 2% - 8% 26% 27.43% A
6 MKL-4 MIN. 5 LAC 180-365 Days 12.9% 2% - 13.1% 26% 27.43% A
7 MBL* MIN. Rs 1000 180-365 Days 9.90% 2% - 16.1% 26% 27.43% A
8 TMA-6 ABOVE 20 LAC 180-365 Days 9.90% 2% - 16.1% 26% 27.43%-29.33% A
9 SS2-1 MIN. 1 LAKH 365 Days 15.5% 1% - 10.5% 26% 29.33% A
10 SS2-2 MIN. 1.95 LAC 365 Days 14.5% 1% - 11.5% 26% 29.33% A
11 SS2-3 MIN. 3 LAC 365 Days 13.50% 1% - 12.5% 26% 29.33% A
12 SS2-4 MIN. 4 LAC 365 Days 12.50% 1% - 13.5% 26% 29.33% A
13 SS2-5 MIN. 5 LAC 365 Days 10.90% 1% - 15.1% 26% 29.33% A
14 SA+1 MIN. 1.95 LAC 365 Days 9.90% 2% - 16.1% 26% 29.33% A
15 MT+1 MIN. 1.99 LAC 180-365 Days 9% 2% - 17% 26% 27.43% A
16 MT+2 MIN. 1.99 LAC 180-365 Days 12% 2% - 14% 26% 27.43% A
17 MT+3 MIN. 1.99 LAC 180-365 Days 14% 2% - 12% 26% 27.43% A
18 SY MAX. 2 LAC 180 Days 20.5% 4%-7.5% 28%          29.66% A
19 DS MAX. 75000 180 Days 12% 2% - 14% 26% 27.43% A
'B' CATEGORY
1 SX MIN. RS 1000 180-365 Days 24% 1% - 2% 26% 27.43%-29.33% B
2 MA1 MIN. 1 LAKH 180-365 Days 23.5% 1% - 2.5% 26% 27.43% B
3 MA2 MIN. 2 LAC 180-365 Days 21% 2% - 5% 26% 27.43% B
4 MKL-2 MIN. 3 LAC 180-365 Days 20% 2% - 6% 26% 27.43% B
5 MKL-3 MIN. 4 LAC 180-365 Days 19% 2% - 7% 26% 27.43% B
6 MKL-4 MIN. 5 LAC 180-365 Days 13.9% 1% - 12.1% 26% 27.43% B
7 MBL* MIN. Rs 1000 180-365 Days 9.90% 2% - 16.1% 26% 27.43% B
8 TMA-6 ABOVE 20 LAC 180-365 Days 9.90% 2% - 16.1% 26% 27.43%-29.33% B
9 SS2-3 MIN. 3 LAC 365 Days 14% 1% - 12% 26% 29.33% B
10 SS2-4 MIN. 4 LAC 365 Days 13% 1% - 13% 26% 29.33% B
11 SS2-5 MIN. 5 LAC 365 Days 11.50% 1% - 14.5% 26% 29.33% B
12 SA+2 MIN. 3 LAC 365 Days 9.90% 2% - 16.1% 26% 29.33% B
13 MT+1 MIN. 1.99 LAC 180-365 Days 9% 2% - 17% 26% 27.43% B
14 MT+2 MIN. 1.99 LAC 180-365 Days 12% 2% - 14% 26% 27.43% B
15 MT+3 MIN. 1.99 LAC 180-365 Days 14% 2% - 12% 26% 27.43% B
16 SY MAX. 2 LAC 180 Days 20.5% 4%-7.5% 28% 29.66% B
17 DS MAX. 75000 180 Days 12% 2% - 14% 26% 27.43% B
'C' CATEGORY
1 SX MIN. RS 1000 180-365 Days 24% 4% 28% 29.66%-31.89% C
2 MA1 MIN. 1 LAKH 180-365 Days 24% 1% - 2% 26% 27.43% C
3 MA2 MIN. 2 LAC 180-365 Days 23% 2% - 3% 26% 27.43% C
4 MA3 MIN. 3 LAC 180-365 Days 21% 3% - 5% 26% 27.43% C
5 MKL-4 MIN. 5 LAC 180-365 Days 15.9% 2% - 10.1% 26% 27.43% C
6 MBL* MIN. RS 1000 180-365 Days 9.90% 2% - 16.1% 26% 27.43% C
7 TMA-6 ABOVE 20 LAC 180-365 Days 9.90% 2% - 16.1% 26% 27.43%-29.33% C
8 SS2-5 MIN. 5 LAC 365 Days 13% 1% - 13% 26% 29.33% C
9 SA+4 MIN. 5 LAC 365 Days 9.90% 4% - 16.1% 26% 29.33% C
10 MT+1 MIN. 1.99 LAC 180-365 Days 9% 2% - 17% 26% 27.43% C
11 MT+2 MIN. 1.99 LAC 180-365 Days 12% 2% - 14% 26% 27.43% C
12 MT+3 MIN. 1.99 LAC 180-365 Days 14% 2% - 12% 26% 27.43% C
13 SY MAX. 2 LAC 180 Days 20.5% 4%-7.5% 28% 29.66% C
14 DS MAX. 75000 180 Days 12% 2% - 14% 26% 27.43% C



OGL Special Rebate for SX/PL schemes

    
Re-pledge (Transactions) Frequency Criteria PL scheme SX scheme
Effective interest Rate Effective interest Rate
Pay full interest & Minimum 4 Repledges in every 15 days from the inventory created date 12% 12%

Effective Rebate Rate Effective Rebate Rate
Pay full interest & Minimum 3 Repledges in every 15 days from the inventory created date 4% 4%
Pay full interest & Minimum 2 Repledges in every 15 days from the inventory created date 2% 2%
Pay full interest & Minimum 2 Repledges in every 30 days from the inventory created date 1.50% 1.50%
Pay full interest & Minimum 1 Repledge in every 30 days from the inventory created date 1% 1%
  • For counting number of repldges during every 15days, the difference between two pledges shall be minimum 1 day.
  • Available only for SX and PL Schemes
  • Repledge via only mode(Web/App) only will be considered for interest rate rebate eligibility.
  • Repledge done on the inventory creation day will not be considered for interest rate rebate eligibility.
  • All other conditions of OGL special rebate scheme remains same.
  • For regular monthly interest paying customers, the initial interest rate slab will be continued during the contracted loan tenure.
  • 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.
  • OGL registered customers will get attractive interest rate rebate by repledging via online mode in PL/SX schemes based on the repledge frequency as follows:
  • Repledge done on the inventory creation day will not be considered for interest rate rebate eligibility
  • *Effective Interest Rate is based on inventory concept, meeting the repledge criteria*

              Prompt Payment Rebate- Rebate Model Gold Loan Schemes
  • In rebate model schemes, customer are eligible for prompt payment rebate based on the promptness in the interest payment within grace period of 3 days.
  • Rebate eligibility shall be calculated based on the days difference between full interest payment done by the customer and rebate is calculated at the monthly/bimonthly/quarterly rebate rate applicable for each schemes.
  • Applicable only on full interest payment by the customer and upto the end of respective loan tenure.       

Note

  • S category are applicable only in Kerala, Andhra Pradesh, Pondicherry, Andaman & Nicobar and Maharashtra (Other than Metro) Branches.      
  • PL Scheme is applicable only in Kerala state.
  • MBL scheme applicable for re-pledges in the pledges currently having effective interest rates below 8.5%.
  • Overdue interest is chargeable at 3% p.a. after loan tenure.

  • Compounding in all Schemes at monthly rest.

  • Processing fee of Rs. 10/- for all schemes at the time of settlement. Additional processing fee on Repledge at 0.007%(GST extra) of new pledge value.

  • Individual maximum exposure limit : 25 Lakhs. Requires separate approval for additional exposure.

  • To view the Branch Category List Click here.
     

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.