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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 MBL* MIN Rs. 1000 180 Days 9.90% 2% - 16.1% 26% 27.43% ALL CATEGORY
2 MBL+* MIN. 5 LAC 180 Days 11.90% 2 - 14.1% 26% 27.43% ALL CATEGORY
'A' CATEGORY
1 SX MIN. RS 1000 180 Days 24% 1% - 2% 26% 27.43% A
2 PL MIN. Rs 1000 180 Days 22.50% 1% - 3.5% 26% 27.43% A
3 MA1 MIN. 1 LAKH 180 Days 23.50%(21% for KL&TL) 1% - 2.5%(1% - 5%) 26% 27.43% A
4 MKL MIN. 1.95 LAC 180 Days 19% 2% - 7% 26% 27.43% A
5 MKL MIN. 3 LAC 180 Days 18% 2% - 8% 26%            27.43% A
6 MKL MIN. 4 LAC 180 Days 17% 2% - 9% 26% 27.43% A
7 MKL       MIN. 5 LAC 180 Days 12% 2% - 14% 26% 27.43% A
8 SS2 MIN. 1 LAKH 180 Days 14.50% 4%-11.5% 26% 27.43% A
9 SS-2 MIN. 1.95 LAC 180 Days
14% 4% - 12% 26% 27.43% A
10 SS-2 MIN. 3 LAC 180 Days 14% 4% - 12% 26% 27.43% A
11 SS-2 MIN. 4 LAC 180 Days 12.50% 4% - 13.5% 26% 27.43% A
12 SS-2 MIN. 5 LAC 180 Days 10.90% 4% - 15.1% 26% 27.43% A
13 SA+ MIN. 1.95 LAC 365 Days 9.90% 2.5% - 16.1% 26% 29.33% A
14 SA+ MIN. 3 LAC 365 Days
9.90% 2.75% - 16.1% 26% 29.33%                  A
15 SA+ MIN. 4 LAC 365 Days 9.90% 3% - 16.1% 26% 29.33% A
16 SA+ MIN. 5 LAC 365 Days 9.90% 4% - 16.1% 26% 29.33% A
17 MT+ MIN 1.99 LAC 180 Days 14% 1% - 12% 26% 27.43% A
18 SY  MAX. 1 LAKH 180 Days 20% 2% - 8% 28% 27.43%                 A
19 DS MAX. 50000 180 Days 12% 1% - 14% 26% 27.43%                  A
'B' CATEGORY     
1 SX MIN. RS 1000 180 Days 24%  1% - 2% 26% 27.43% B
2 MA1 MIN. 1 LAKH 180 Days 23% 1% - 3% 26% 27.43% B
3 MA2 MIN. 2 LAKH 180 Days 20% 2% - 6% 26% 27.43% B
4 MKL MIN. 3 LAKH 180 Days 18.50% 2% - 6.5% 26% 27.43% B
5 MKL MIN. 4 LAKH 180 Days 17.50% 2% - 8.5% 26% 27.43% B
6 MKL MIN. 5 LAKH 180 Days 13% 2% - 13% 26% 27.43% B
7 SS2 MIN. 3 LAKH 180 Days 14% 1% - 12% 26% 27.43% B
8 SS2 MIN. 4 LAKH 180 Days 13% 1% - 13% 26% 27.43% B
9 SS2 MIN. 5 LAKH 180 Days 11.50% 1% - 14.5% 26% 27.43% B
10 SA+ MIN. 3 LAKH 365 Days 9.90% 2.75% - 16.1% 26% 29.33% B
11 SA+ MIN. 4 LAKH 365 Days 9.90% 3% - 16.1% 26% 29.33% B
12 SA+ MIN. 5 LAKH 365 Days 9.90% 4% - 16.1% 26% 29.33% B
13 MT+ MIN. 1.99 LAKH 180 Days 15% 1% - 11% 26% 27.43% B
14 SY MIN. 1 LAKH 180 Days 20% 2% - 8% 28%          27.43% B
15 DS MAX. RS 50000 180 Days 12% 1% - 14% 26% 27.43% B
'C' CATEGORY
1 SX MIN. RS 1000 180 Days 24% 2% 28% 27.43% C
2 MA1 MIN. 1 LAKH 180 Days 24% 1% - 2% 26% 27.43% C
3 MA2 MIN. 2 LAC 180 Days 21% 2% - 5% 26% 27.43% C
4 MA3 MIN. 3 LAC 180 Days 19% 3% - 7% 26% 27.43% C
5 MKL MIN. 4 LAC 180 Days 18.50% 2% - 7.5% 26% 27.43% C
6 MKL MIN. 5 LAC 180 Days 14% 2% - 12% 26% 27.43% C
7 SS2 MIN. 4 LAC 180 Days 14% 1% - 12% 26% 27.43% C
8 SS2 MIN. 5 LAC 180 Days 12% 1% - 14% 26% 27.43% C
9 SA+ MIN. 4 LAC 365 Days 9.90% 3% - 16.1% 26% 29.33% C
10 SA+ MIN. 5 LAC 365 Days 9.90% 4% - 16.1% 26% 29.33% C
11 MT+ MIN. 1.99 LAC 180 Days 16% 1% - 10% 26% 27.43% C
12 SY MAX. 1 LAKH 180 Days 20% 2% - 8% 28% 27.43% C
13 DS MAX. RS 50000 180 Days 12% 1% - 14% 26% 27.43% C
'D' CATEGORY
1 SX MIN. RS 1000 180 Days 24% 4% 28% 27.43% D
2 MA1 MIN. 1 LAKH 180 Days 24% 1% - 2% 26% 27.43% D
3 MA2 MIN. 2 LAC 180 Days 22% 2% - 4% 26% 27.43% D
4 MA3 MIN. 3 LAC 180 Days 20% 3% - 6% 26% 27.43% D
5 MKL MIN. 5 LAC 180 Days 15% 2% - 11% 26% 27.43% D
6 SS2 MIN. 5 LAC 180 Days 13% 1% - 13% 26% 27.43% D
7 SA+ MIN. 5 LAC 365 Days 9.90% 4% - 16.1% 26% 29.33% D
8 MT+ MIN. 1.99 LAC 90 Days 17% 1% - 9% 26% 27.43% D
9 SY MAX. 1 LAKH 90 Days 20% 2% - 8% 28% 27.43% D
10 DS MAX. RS 50000 90 Days 12% 1% - 14% 26% 27.43% D
New Gold Loan Schemes for Banglore-1,2,3 and Tumkur Region
1 SX MIN. 1000 180 Days 23.50% 2% - 2.5% 26% 27.43% A
2 SX MIN. 1000 180 Days 23.75% 2% - 2.25% 26% 27.43% B
3 SX MIN. 1000 180 Days 24.00% 2.00% 26% 27.43% C
4 SX MIN. 1000 180 Days 24.00% 2.00% 26% 27.43% D
5 MKA-1 1LAKH To 2LAC 180 Days 19.00% 2% - 7% 26% 26.56% ALL CATEGORY
6 MKA-2 2 LAC To 3 LAC 180 Days 18.00% 2% - 8% 26% 26.56% ALL CATEGORY
7 MKA-3 3 LAC To 4 LAC 180 Days 17.00% 2% - 9% 26% 26.56% ALL CATEGORY
8 MKA-4 4 LAC To 5 LAC 180 Days 15.00% 2% - 11% 26% 27.43% ALL CATEGORY
9 MKA-5 5 LAC To 10LAC 180 Days 11.90% 2% - 14.1% 26% 26.56% ALL CATEGORY
10 MKA-6 10LACTo 20LAC 180 Days 11.50% 2% - 14.5% 26% 26.56% ALL CATEGORY
11 MKA-7 ABOVE 20 LAC 180 Days 9.90% 2% - 16.1% 26% 26.56% ALL CATEGORY
New Scheme for South Indian States Except Telangana
1 SX MIN. 1000 180 Days 23% 1% - 3% 26% 27.43% ALL CATEGORY
2 PL MIN. 1000 180 Days 20% 1% - 6% 26% 27.43% ALL CATEGORY
3 TMA 1 1LAKH To 2LAC 180 Days 16% 1% - 10% 26% 27.43% ALL CATEGORY
4 TMA 2 2 LAC To 3 LAC 180 Days 15% 2% - 11% 26% 27.43% ALL CATEGORY
5 TMA 3 3 LAC To 4 LAC 180 Days 15% 2% - 11% 26% 27.43% ALL CATEGORY
6 TMA 4 4 LAC To 5 LAC 180 Days 14% 3% - 12% 26% 27.43% ALL CATEGORY
7 TMA 5 5 LAC To 20LAC 180 Days 10.50% 2% - 15.5% 26% 27.43% ALL CATEGORY
8 TMA 6 ABOVE 20 LAC 180 Days 9.90% 2% - 16.1% 26% 27.43% ALL CATEGORY

 



Rebate in Gold loan Scheme

  • 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:
  • 4 repledges in every 15 days from the inventory created date - Effective Interest Rate of 12% p.a.
  • 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
  • For counting number of repldges during every 15days, the difference between two pledges shall be minimum 1 day.
  • 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*

Note

  • MBL scheme applicable for re-pledges in the pledges currently having effective interest rates below 8%.
  • MBL+ scheme applicable only in Kerala, Tamilnadu, Karnataka, Andra Pradesh & Telangana
  • 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% 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.