Swarnamitra is an overdraft facility against your Jewels for Business purposes.
Features and Benefits
- It is an Overdraft / Short Term Loan.
- It is specific to individuals who own gold jewellery.
- The loan is specifically for commercial purposes.
Charges and Limits
|Minimum Loan Amount||Rs. 1 Lakh|
|Repayment Tenor||12 Months (Overdraft Facility). The Limit can be renewed for a further period of 12 months, subject to the discretion of sanctioning authority.|
|Primary Security||Pledge of gold jewellery with a minimum purity of 22 Carats and Gold Ingots sold by banks.|
|Collateral Security||Nil (Optional)|
|Processing Charges||0.50% (inclusive of Appraisal charges)|
|Other Terms & Conditions|| |
|Nature of Facility||Rate of Interest|
|Swarnamitra Commercial||One year MCLR + 1.45 %|