Interest:

• Our base rate of interest is 12 percent. However, depending upon how high the loan to value (LTV) is, additional interest (amounting to risk premium) ranging from 4-8 percent is charged over and above the base rate.


• The interest rate is fixed and calculated on a reducing balance basis.

Schemes:

Our Gold loan schemes fall broadly into two categories:

• High loan to value: These schemes offer the maximum amount of loan per Gram. At the same time in keeping with the extra risk, the interest cost to the borrower is higher.


• Low interest rate: In this category, the interest rates are lower but the Loan to Value (LTV) is also comparatively less.

Our products are well tailored not only to the income group of the member, but to relevant considerations like how much loan members would like to avail against jewellery, and their comfort levels with respect to the interest rate and periodicity of repayment of interest and principal.

Guaranty and Security:

• We guarantee you that it will be in our safe hands in strong cash safes inside a strong room built as per the standards and specifications applicable to commercial banks.
• The pledged gold ornaments are also insured for full value.
• Moreover, security personnel and modern electronic surveillance technology are deployed to protect your beloved gold ornaments.

Note:

• There are no prepayment penalties. Simple interest is charged, which the borrower has to pay at the specified periodicity or at the closure of loan, whichever is earlier.
• The loan amount will be sanctioned on the basis of gold valuation which involves verification of its purity.