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April 7th, 2017, 02:57 PM
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Join Date: Mar 2012
Re: South Indian Bank Jewel Loan Interest

The main purpose of the Jewel loan is provided by South Indian Bank is available for meeting personal/family/business/finance requirements/other unforeseen requirements.

The South Indian Bank offers Gold Loans to customers under various schemes to offer loan against gold objects to meet the customer’s financial requirements.

Rate of interest:

For loans to normal individuals – 1 year + MCLR
For loans to the Priority Sector (MSE) – 1 year + MCLR


Amount of Advance
Minimum :Rs. 5,000/-
Maximum : Rs 10.00 Crore.

Security
Pledge of 22ct Gold jewellery / ornaments

Period of loan
12 Months

Cutoff date for conducting auction
As per norms

Minimum Interest
Minimum for 5 days or Rs.50/- whichever is higher.

Interest rate:

Category Interest rate
Gold Power-Indvidual 1 year MCLR + 1.65%
Gold Power-Business/Self employed 1 year MCLR + 1.65%
Gold Power-Re-pledge 1 year MCLR + 1.65%

Schematic Loans (Fixed Rate)
Category Interest rate
Gold Rush Scheme 11.00%
Gold Max Scheme (For other purpose) 11.00%
Gold Max Scheme (For agricultural purposes ) 10.50%
Gold Loan General 11.00%
Gold Loan Agri 10.50%
Gold Loan Agri up to & incl 3 lakhs-Interest Subvention 7.00%
Gold Loan - Other Priority Sector (other than Agriculture Gold loan) 11.00%
Gold Max Plus 11.00%
Gold Loan Monthly Interest Payment 11.00%
SIB Personal Loan Scheme. 13.00%


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