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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

  • Gold loan for all your needs
  • Express speed of sanction
  • Lower processing charge
  • Competitive interest rate
  • No closure charges
  • No documentation charges
  • 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:
SLAB ROI
Upto 3 Lakh RLLR+0.20 i.e, 7.05%
Above 3 Lakh upto 5 Lakh RLLR+0.85 i.e, 7.70%
Above 5 Lakh upto 25 Lakh RLLR+1.30 i.e, 8.15%

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:
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:
SLAB ROI
Upto 3 Lakh MCLR+1.70 i.e, 9.15%
Above 3 Lakh MCLR+2.20 i.e, 9.65%

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:
SLAB ROI
Upto 3 Lakh MCLR+1.40 i.e, 8.85%
Above 3 Lakh MCLR+1.90 i.e, 9.35%