Indian Bank Gold Loan

Jewel Loan (Non-Priority)

9.00% to 9.75%

OD against Gold Jewels

9.90% to 10.40%

Sovereign Gold Bond

9.05% to 9.90%

Target Group

General Public, Women Applicants, Senior Citizens, including Bank Staff.

Purpose

Domestic needs, consumption, family function, medical, and

other unforeseen expenses (non-speculative).

Age

Entry Age: Minimum 21 years Exit Age: Maximum 70 years

Nature of Facility

Term Loan & Overdraft

Eligibility

Existing and New Customers

Maximum Jewel Loans per Customer

Maximum 5 loans per customer (including Agri, Retail, and MSME).

Maximum Loan Amount

Up to Rs.50 lakh

Assessment

Based on purpose (non-speculative), subject to loan-to-value (LTV) guidelines.

1. Retail Jewel Loan Income Proof Requirements: Less than equal to Rs.1.75 Lakh, Borrower’s declaration of income up to ₹3 Lakh acceptable;
2. Proof required if income greater than Rs.3 Lakh: Rs.1.75 Lakh, Income proof mandatory.

Tenure

Bullet Repayment: Maximum 12 months, repayable at the end of the 12th month with accrued interest.

EMI Repayment: Maximum 35 months, repayable in EMIs starting the month after loan disbursement.

Disbursement

Loan proceeds credited to the borrower’s account maintained with the Bank.

Eligibility

1. General Public
2. Women Applicants
3. COVID Warriors (includes):
4. Healthcare professionals across disciplines
5. Sanitation staff (State Govt. employees and those engaged by municipal bodies)
6. Police staff, including Home Guard
7. Anganwadi and ASHA workers
8. Dak Sewak
9. Fire staff
10. Ex-servicemen
11. NSS volunteers

Age

Entry Age: Minimum 21 years

Purpose

Any purpose other than speculative

Quantum of Loan

Amount: Minimum Rs.25,000 to Maximum Rs.1 lakh

75% of the market value of pledged jewels or per gram advance value, whichever is lower.

Repayment

Interest to be serviced as charged in the account.

Withdrawals permitted within the sanctioned limit.

Appraiser Fee

To be borne by the applicant

Security

Pledge of Gold Jewels

Add-on Benefits

Issuance of RuPay Card

Personalised Cheque Books

Renewal of Account

The account must be renewed within one year from the date of original/latest sanction. OD limit will be re-assessed based on the pledged jewels' value and margin requirements at that time.

Documents Required

Duly filled application form

Identity proof

Address proof