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)
Guarantee Nil (Optional)
Processing Charges 0.50% (inclusive of Appraisal charges)
Other Terms & Conditions
  • Interest to be serviced monthly.
  • At the time of renewal Drawing Power shall be fixed based on the Prevailing Gold Rates, as notified by the bank.
  • The facility shall be availed only by the owners of gold jewellery.
  • No exchange of Jewellery/ies is / are permitted.
  • Once an overdraft account becomes irregular or overdue, all the provisions applicable to jewel Loans (Recovery by auction etc.,) shall be applicable.
Interest Rate
Nature of Facility Rate of Interest
Swarnamitra Commercial One year MCLR + 1.45 %
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