Your Gold with IOB Jewel Loan (2024)

Loan Type

Details

KCCJL (Agricultural Jewel Loan)

• Purpose:To meet Short-term production credit needs of farmers.
• Limit:Maximum limit per borrower Rs. 10 lakhs.
• Repayment:Bullet payment in one year

AGTAJ (Agriculture Term Loan - Jewellery)

• Purpose:To meet Investment credit needs of farmers.
• Limit:Maximum Limit Per Borrower Rs. 50 Lakhs.
• Repayment:Maximum 3 Years in Monthly/Quarterly/Half Yearly/Yearly.

SME Gold

• Purpose:To meet investment need in MSME - Manufacturing, Services and Retail Trade sectors.
• Limit:Maximum limit per borrower of Rs. 50 Lakhs.
• Repayment:Bullet payment in one year.

JL-Others (Jewel Loan - Others)

• Purpose:To meet domestic/business needs.
• Limit:Maximum limit per borrower of Rs. 50 lakhs.
• Repayment:For loan upto 15 Lacs - bullet payment in one year and for loan above 15 lacs-in monthly EMIs with maximum 35 months.

IOB Swarnalakshmi (Women Borrowers)

• Purpose:To meet domestic needs ofWomen customers(i.e. non-productive purpose), who is having saving/ current Account with us.
• Age:Minimum 18 Year
• Limit:Maximum limit per borrower of Rs. 5.00 Lakhs.
• Repayment:Loan to be repaid within a period of 12 months as bullet payment - both principal and interest due for payment at the end of the term.
• Free Insurance:A free accidental insurance cover of Rs.2 Lacs under PMSBY to individual women beneficiaries for First time.

IOB Swarna Samridhi

• Purpose:To meet short term credit requirement for crop cultivation, land development activities, investment activities & activities allied to agriculture.
• Target Group:Agriculturists/Farmers who are owner cultivators, tenant farmers, oral lessees & sharecroppers engaged in crop cultivation, land development activities, investment activities & activities allied to agriculture.
• Age:Minimum 18 Years
• Quantum of Loan:Maximum Loan amount per borrower - Rs. 10 Lakhs
• Margin:Nil
• Security:Hypothecation of assets created out of the Loan. Pledge of Gold ornaments.
• Assessment:For Crop Cultivation purpose - Prevailing per gram advance rate or Loan amount as per scale of finance whichever is lower.
• For Agri allied and ancillary activities - Prevailing per gram advance rate or Loan amount arrived as per project cost whichever is lower.
• Repayment:Loan to be repaid within a period of 6 months as bullet payment - both principal and interest due for payment at the end of the term.
• Interest Rate:Loan to be repaid within a period of 6 months as bullet payment - both principal and interest due for payment at the end of the term.
• Processing Charges:0.15% of the loan for loan upto Rs. 10.00 lakhs with minimum of Rs. 150/-.
• Documents Required:Form 89E(View), Annexure(View)

IOB Gold Powered Card

• Purpose:-IOB Gold powered RuPay card can be sanctioned as an overdraft facility for consumption purposes and contingencies.

The limit will be sanctioned based on the declaration of the borrower

Loan shall not be given for speculative purpose.

• Target Group:-Any individual above the age of 18 owning gold ornaments/jewellery/coins and having account with us either singly or jointly. Staff are also eligible.
• Age:-Minimum 18 years and no age restriction for exit
• Quantum of Loan:-Minimum:- Rs. 25,000/- Max:- Rs. 25.00 lakhs
• Repayment:-The borrower can service both interest and principal at maturity of loans i.e. 12 months from date of sanction.
• Processing Charges:-0.30% of the sanctioned limit.

Jewel Loan Suvidha

• Purpose:Margin money requirement in housing loan, Registration charges of house property. Project price escalation. Reimbursem*nt within a period of 12 months from the date of expenses incurred by the customer for the purposes as mentioned above.
• Target:Any individual above the age of 18 owning gold ornaments/jewellery/coins and having housing loan account with IOB either singly or jointly (both existing & new) or with any bank/FI. Individuals with steady source of income including pensioners.
• Age:Minimum 18 years and no age restriction for exit
• Quantum of Loan:Minimum:- Rs. 25,000/- Maximum:- Rs. 50.00/- lakhs.
• Repayment:

• Processing Charges:0.25% of the sanctioned limit subject to minimum of Rs. 500/- +GST and maximum of Rs. 2500/- +GST.

Types of Jewel Loan Schemes

SLAB

ROI

KCCJL(Agriculture Jewel Loan)

Up to Rs. 3 Lacs

With Interest Subvention under KCC

7% (For Prompt Payment Additional Subvention of 3%).

Without Interest Subvention

MCLR+0.90%=9.85%

Above Rs. 3 Lacs up to Rs. 10 Lacs

MCLR+2.50%=11.45%

AGTAJ (Agriculture Term Loan - Jewellery)

Maximum Up to Rs. 50 Lacs

RLLR – 0.85%=8.50%

JL-Others (Jewel Loan - Others)

Maximum Up to Rs. 50 Lacs

RLLR-0.50%=8.85%

SME GOLD

From Rs. 25,000 to Rs. 50 Lacs

RLLR - 0.50% =8.85%

Cash Credit:- RLLR-0.40%=8.95%

IOB Swarnalakshmi (Women Borrowers)

Up to Rs. 5 Lacs

MCLR +SP (0.20%) +RP (0.05%) = 9.20%

IOB Swarna Samridhi

Maximum up to Rs. 10 Lakhs

Six-Month MCLR i.e. 8.80% presently, penal interest of 2% to be charged for the overdue portion.

Jewel Loan Suvidha

From Rs. 25,000/- to Rs. 50.00 lakhs

RLLR+0%= 9.35% presently

IOB Gold Powered Card

From Rs. 25,000/- to Rs. 25.00 lakhs

RLLR+0%= 9.35% presently