Eligibility

Individuals/ Proprietors/ Partners of MSE units, Professional & Self-employed, artisans etc., primarily engaged in manufacturing and services.

Purpose

To meet all business needs including working capital requirements, to take up income generating activities/self-employment against the prime security of Jewels.

Loan Amount

Minimum Loan amount of Rs.25,000/- and maximum Loan amount is Rs.50 lakhs

Margin

No specific Margin is required

Rate of Interest

RLLR+0.65% (Demand Loan + Cash Credit)

Security

Gold Ornaments/ Jewellery of the borrower pledged to the Bank for the loan, will be treated as prime security

Repayment

Demand Loan: Maximum 12 Months. The entire principal and interest to be repaid in part or bullet repayment any time before maturity.

Cash Credit: To be renewed once in year. Interest to be serviced as and when debited.

Processing Charges

Up to Rs. 0.50 Lakhs Nil

Above Rs. 0.50 lakh up to Rs. 1.00 Lakh Rs. 100

Above Rs. 1.00 lakh up to Rs. 2.00 Lakh Rs. 250

Above Rs. 2.00 lakh up to Rs. 3.00 Lakh Rs. 500

Above Rs. 3.00 lakh up to Rs. 5.00 Lakh Rs. 750

Above Rs. 5.00 lakh up to Rs. 10.00 Lakh Rs. 1000

Above Rs. 10.00 Lakh Rs. 2000

Other Conditions

• Udyam Registration Number/ Udyam Assist Certificate (UAC) is mandatory
• Part release of the jewel is permitted in Cash Credit account.
• Borrower can avail multiple loans subject to the maximum scheme amount. However, Cash Credit facility shall be given only under one account per borrower.