IOB GOLD LOAN – “WORTH A WHILE WITH GOLDEN SMILE”
Our Bank has linked the interest rate of Agriculture Term Loan Against Jewellery(AGTAJ) Scheme with Repo linked Lending rate (RLLR) with effect from 10.09.2020, thereby reducing our Gold loan interest rate under AGTAJ scheme by 60 bps across all the slabs as under:
Special features
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Gold loan for all your needs
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Express speed of sanction
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Lower processing charge
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Competitive interest rate
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No closure charges
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No documentation charges
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and many more….
Services
Our Gold Loan products
Agriculture Term loan – Jewellery (AGTAJ)
- Purpose
- to meet Short-term production needs, Agri-allied activities and investment credit needs of farmers
- Limit
- Maximum limit per borrower of Rs.25 Lakh.
- Repayment
- Maximum 36 months in Half yearly/Yearly.
- Interest Rate:
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SLAB ROI Upto Rs. 25 Lakh RLLR + 0.20% i.e. 7.05%
Jewel Loan SME (JLSME)
- Purpose
- to meet investment need in MSME - Manufacturing Services and Retail Trade sectors
- Limit
- Maximum limit per borrower of Rs.5 Lakh.
- Repayment
- Bullet payment in one year.
- Interest Rate:
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SLAB ROI Upto 2 Lakh RLLR+0.80 i.e, 7.65% Above 2 Lakh upto 5 Lakh RLLR+2.05. i.e, 8.90%
Jewel Loan Others (JLOTH)
- Purpose
- to meet domestic/business needs
- Limit
- Maximum limit per borrower of Rs.25 Lakh.
- Repayment
- For loan upto 5 Lakh - bullet payment in one year and for loan above 5 Lakh - in monthly EMIs with maximum 35 months.
- Interest Rate:
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SLAB ROI Upto Rs. 25 Lakh RLLR + 0.55% i.e. 7.40%
IOB Swarnalakshmi (JLSWL)
- Purpose
- To need domestic needs (i.e, non-productive) to women.
- Limit
- Maximum limit per borrower of Rs.5 Lakh.
- Repayment
- Bullet payment in one year.
- Target group
- Women customers who own jewellery and having saving/current account in our Bank.
- Age
- Minimum 18 year.
- Free Insurance
- A free accidental insurance cover of Rs.2 Lakh under PMSBY to individual women beneficiaries which can be utilised as an effective marketing tool fro promoting the scheme.
- Interest Rate:
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SLAB ROI Upto 3 Lakh MCLR+1.40 i.e, 8.85% Above 3 Lakh MCLR+1.90 i.e, 9.35%