MSME DIGI Jewel Loan and Jewel Loan (Re-Pledge)

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Target Group

All MSMEs involved in Manufacturing / Service / Trading activities as per extant definition of Government of India.

Purpose

To meet Working Capital requirements, Purchase of Assets meant for business, Repayment of debt taken from Non-Institutional lenders for business purpose

Nature of facility

Term Loan only

Eligible customers

1. Active CIF with valid mobile number

2. Re-KYC and E-KYC complied CIF

3. SB a/c with Mode of Operation as Self / Either or Survivor

4. Non NPA CIF

5. Existing number of Jewel Loan accounts shall be less than or equal to 9

6. Existing Jewel Loans sanctioned under Bullet repayment shall be less than Rs 35.00 Lakh

Loan amount

Minimum of 70% of panel jewel appraiser’s value

Repayment Period

For Limits up to 10 lakhs	Maximum Tenor: 12 months Repayable at the end of 12th month along with interest accrued- bullet payment
For limits above 10 lakhs	Maximum Tenor: 12 months Repayable at the end of 12th month along with interest accrued- bullet payment.

Benefits

1. Reduced TAT.

2. Instant updating in CBS.

3. Pre-filled legal documents.

Rate of Interest

Starting from 8.65%*.

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( Last modified on Nov 08, 2024 at 03:11:53 PM )