National Helpline No1800 425 00 000

Jewel Loan

Particulars

Norms

1. Target Group

General Public, Women Applicants, Senior Citizens including our Bank staff.

2. Purpose

Domestic needs, consumption, family function, medical & other unforeseen expenses/ commitment (other than speculative).

3. Age

Entry Age – Minimum 21 years

Exit Age – Maximum 70 years

4. Nature of facility

Term loan & Overdraft

5. Eligibility

Existing and New Customers.

6. Maximum no. & amount of Jewel Loans per customer

Maximum of 5 (five) jewel loans can only be availed by a customer at any point of time including Agri, Retail and MSME.

The ceiling for maximum amount under jewel loan which can be sanctioned to any customer including Agri, Retail and MSME at any point of time is as under:

(₹ in Cr.)

Vertical	Bullet Repayment product		EMI product		Overall limit
	Vertical wise	Per Customer	Vertical wise	Per Customer
Agri	0.25	0.50	0.25	0.50	0.50
Retail	0.25		0.25
MSME	0.25		0.25

7. Assessment

Limits should be assessed based on Purpose (other than speculative) for which loan is being provided to the applicant, subject to loan to value of jewels (as per the existing guidelines for loan against Gold Ornaments and Jewelry)

For Retail Jewel Loan income proof of the applicant to be obtained for assessing the repayment capacity of the borrower as under;

§ Retail Jewel Loans up to ₹1.75 lakh: Can be sanctioned based on the borrower’s declaration of annual income up to ₹3.00 lakh. If the declared income exceeds ₹3.00 lakh, income proof (ITR, Form 16, other documents if any) must be obtained.

§ Retail Jewel Loans above ₹ 1.75 lakh: Obtention of income proof (ITR, Form 16, other documents if any) is mandatory

8. Advance value/ LTV/ Trigger LTV

Bullet Repayment Tenure	Advance Value	Available Margin	Max LTV % during the tenure of the loan	Trigger LTV (%)#
12 Months	68%	32%	75%	74%
6 Months	71%	29%
3 Months	73%	27%
For loans to be repaid in EMI	70%	30%
OD against Gold Jewels	75%	25%