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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. 50,000/-(Women customers Rs 100,000/-)
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 22.00% 29.19% 26.00% 29.94%
31- 60 days 27.50% 27.50%
61- 180 days 29.00% 29.00%
Super Loan Plus
(GL-SG+)
270 Days 0 - 30 days 22.00% 29.79% 26.00% 30.32%
31- 60 days 27.00% 27.00%
61- 270 days 28.00% 28.00%
Samadhan Plus
(GL-SA+)
365 Days 0 - 30 days 22.00% 31.15% 26.00% 31.57%
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) 25.75% 28.04%
31- 60 days 27.50%
61- 90 days 29.00%
90 Days 0 - 30 days (Applicable only in **Tier 1 branches in Northern states) 25.75% 28.04%
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) 26.75% 28.39%
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
GL SS1 90 Days 0-90 days 24% 24.48% 24% 24.48% (Minimum Loan value for SS1: 5 Lakhs, MT: 3 Lakhs, SS3: 20 Lakhs, MT+: 1 Lakh )
GL MT 365 Days 0-365 days 24% 24.48% 24% 24.48%
GL SS3 90 Days 0-90 days 24% 24.48% 24% 24.48%
GL MT+ 365 Days 0-365 days 26% 29.33% 26% 29.33%
GL SX+ 365 Days 0-365 days 26% 29.33% 26% 29.33% (Minimum Loan value for SX+:1000, MA1:1Lakh, MA2: 5Lac, MA3: 10 Lac)
GL MA1 365 Days 0-365 days 24% 26.82% 24% 26.82%
GL MA2 365 Days 0-365 days 20% 21.94% 20% 21.94%
GL MA3 365 Days 0-365 days 19% 20.74% 19% 20.74%
GL SX++ 365 Days 0-365 days 26% 29.33% 26% 29.33% (Minimum Loan value for SX++:NO LIMIT, MMA-1:1Lakh, MMA-2: 5Lac, MMA-3: 10 Lac)
GL MMA-1 365 Days 0-365 days 24% 26.82% 24% 26.82%
GL MMA-2 365 Days 0-365 days 24% 26.82% 24% 26.82%
GL MMA-3 365 Days 0-365 days 24% 26.82% 24% 26.82%
GL MVV 365 Days 0-365 days 24% 26.82% 24% 26.82% (Loan Limit for MVV : Rs 100 to Rs 25000)
GL MKL 180 Days 1-180 days 24% 25.22% 24% 25.22% (Minimum Loan value for MKL: Rs. 200000)
GL MBR 180 Days 1-180 days 24% 25.22% 24% 25.22% (Minimum Loan value for MBR: Rs. 200000)
GL MDS + 365 Days 1-365 days 24% 26.82% 24% 26.82% (Minimum Loan value for MKL: Rs. 200000)
(Effective interest %(Monthly Payment): MT : 8.4% , MT+ : 8.4%)
(Effective interest %(Bimonthly Payment): MT : 9.90% , MT+ : 20%)
(Effective interest %(Quarterly Payment): MT : 10.90% , MT+ : 24%)
(Effective interest %(6 Months Payment): MT : 14%)
(Effective interest %(9Months Payment): MT : 16% )
(Interest rate % After 9 Months 24% for MT and Interest rate % After 3 Months 26% for MT+)
(Available in selected branches)
(Effective interest %(Monthly Payment): SX+:18%, MA1:15%, MA2:9.9%, MA3:9%)
(Effective interest %(Bimonthly Payment): SX+:20%, MA1:18%, MA2:14%, MA3:13%)
(Effective interest %(Quarterly Payment): SX+:24%, MA1:21%, MA2:17%, MA3:16%)
(Available in selected branches)
(Effective interest %(Monthly Payment): SX++: 22%, MMA-1: 13%,MMA-2: 11.50%, MMA-3: 10.50%)
(Effective interest %(Bimonthly Payment): SX++: 22%, MMA-1: 16%,MMA-2: 15%, MMA-3: 15%)
(Effective interest %(Quarterly Payment): SX++: 22%, MMA-1: 20%,MMA-2: 20%, MMA-3: 18%)
(Available in selected branches)
(Effective interest %(Quarterly Payment): MVV : 18%)
(Effective interest %(Half Yearly Payment): MVV : 20%)
(Effective interest %(Monthly Payment): MKL: 7% , MBR : 8% , MDS+ :8.4%)
(Effective interest %(Bimonthly Payment): MKL: 16% , MBR : 16% , MDS+ :16%)
(Effective interest %(Bimonthly Payment): MKL: 21% , MBR : 21% , MDS+ :21%)
(Effective interest %(4th Month Payment): MKL : 24%, MBR: 24%, MDS+: 24% )

Rebate in Gold loan Scheme

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

b. The effective interest rate for regular monthly interest paying customers under schemes SS1: 18%, MT: 8.4%, SS3: 12%, MT+: 8.40% (MT and MT+ schemes only avail for takeover loans)

c. 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:

d. In MVV scheme no interest will be levied for the first 50days (100% waiver of Interest).Pledges Restricted only for first 1 Lakh applicants on first come first serve basis.

   

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