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

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%, SS2: 15%, SS3: 12%, H1+: 11% and H2+: 10%.  

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:

   
• 4 repledges in every 15 days from the inventory created date - Effective Interest Rate of 12% p.a (BL-9.9%)
• 3 repledges in every 15 days from the inventory created date - 4% interest Rebate 
• 2 repledges in every 15 days from the inventory created date - 2% interest Rebate 
• 2 repledge in every 30 days from the inventory created date (1st repledge in 1-15 days & next repledge in 16-30 days) - 1.5 % interest Rebate 
• 1 repledge in every 30 days from the inventory created date - 1% interest Rebate

Note

• 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 0.07% of new pledge value.

• B4+ scheme is available only for high value loans of Rs. 1 crore and above.

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

• * PL Scheme is available in all Kerala branches.

• ** Branches in Mumbai, Mumbai City, Pune, Lucknow, Kanpur Dehat, Kanpur Nagar, Kolkata, Bhopal, Indore, Cuttack & Khordha districts in northern states are considered as Tier1 branches.

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