CENT JEWEL

Eligibility

All working and non working woman of age 18 to 55 years.
Purpose

To purchase gold Jewellary / gold ornaments of Tanishq make or Hall marked Jewellary or BIS marked Jewellary or Jewellary from reputed jewellary shops AND to purchase Diamonds of reputed brands.

Eligible Loan amount

80% of cost of gold ornaments subject to minimum of Rs.10,000/- and maximum of Rs.1,00,000/-

It should be ensured that the Net take Home criteria of 40% are complied including EMI of proposed loan.

Security

Hypothecation of gold ornaments purchased.
However in case of loan above Rs.50,000/- additional security in the form of liquid securities viz. FDRs/NSCs/KVPs/LIC (SV) etc. at least equal to the 50% loan amount should be obtained.

Disbursement

Latest Salary certificate of applicant or husband (Co-applicant) and form 16 or IT return

IT return for last two years in case of non salaried working woman.

Employer's undertaking wherever applicable.

Statement of bank account in case of applicant not maintaining account with our bank.

Asset & liability declaration along with photographs.

Quotation

Rate of Interest

Click here to view Interest Rates

Processing Fees

1% of loan amount subject to minimum of Rs.250/-.
Repayment

Repayment in maximum 36 EMIs commencing from next month of disbursement.
Other conditions

All the KYC norms should be complied with.

Residence, Income and Employment Verification report should be prepared as per formats enclosed and kept on record.

The original bill and receipt should be held on record.

Post dated cheques should be obtained for entire EMIs except in case of salaried class working woman whose salary is routed through our Branch or Undertaking of the employer is obtained for deduction of EMIs from salary and remittance to bank.