Jewel Loan: Unlock the Value of Your Gold for Financial Flexibility

Gold has always been a cherished asset in India, symbolizing wealth, security, and tradition. It’s not just a treasure; but a key to unlocking financial freedom when you need it most. The Jewel Loan facility allows individuals to leverage the value of their gold, offering a financial solution to meet various needs in life.

Why Choose a Jewel Loan?

Jewels, often inherited or acquired as savings, are among the most liquid and valuable assets. When unexpected expenses arise or you need to plan for a significant event, a Jewel Loan can provide quick financial support, letting you unlock the value of your gold.

Jewel Loan stands out as a reliable financial option for several reasons:

1. Quick Access to Funds: The processing time is faster compared to other loans, ensuring immediate financial support during urgent situations.
2. No Need to Sell Your Gold: You can unlock the value of your gold without having to sell it, allowing you to retain your cherished possessions. This way, your emotional connection to your gold remains intact, giving you both financial support and peace of mind.
3. Flexible Usage: The funds can be utilized for a variety of purposes, including medical emergencies, educational needs, family events, or personal projects (excluding speculative purposes).
4. Simple Documentation: The process involves minimal paperwork, making it hassle-free and accessible to most individuals.
5. Better Interest Rates: Jewel Loans tend to have more favourable interest rates compared to other loans without collateral.
6. Security and Peace of Mind: Your gold remains safe in the bank’s custody, providing peace of mind while you use the funds to address your financial needs.
7. A Smart Choice During Economic Uncertainty: Gold has always been considered a stable and appreciating asset. By availing a Jewel Loan, one can tap into this dependable resource without having to liquidate their valuable asset, ensuring financial stability while retaining the potential for future value appreciation.

The Jewel Loan facility provided by Indian Bank is available for individuals including senior citizens, between the ages of 21 and 70. It provides flexibility in terms of repayment options, tailored to suit individual financial preferences:

1.Bullet Repayment

• In this option, the entire loan amount is paid at the end of the period, along with interest.
• Customers can avail a loan based on the per gram advance value of jewels, as communicated by the bank from time to time, or on the market-based advance value of the pledged jewels (22 carat fineness/ gold coins of 24 carat fineness) as detailed in the link, whichever is lower .However, the maximum loan amount that can be availed is ₹35.00 lakhs per borrower.
• The maximum repayment period in this type is 12 months, with an option to choose a bullet repayment tenure of 3, 6, or 12 months.

2.Monthly Repayment

• This option lets one to repay the loan in easy, equated monthly instalments (EMIs) with interest, giving them the flexibility to manage their finances comfortably.
• Customers can avail a loan based on 70% of the market value of the pledged jewels or the per gram advance value of the jewels, whichever is lower, providing the freedom to borrow according to the need with no upper limit on the loan amount.
• Maximum Repayment Period in this type is 35 months.

The per gram advance value is the loan amount one can get for each gram of gold and is communicated by bank from time to time. The market-based advance value is determined by the current price of gold, ensuring that the loan amount matches the latest gold rates

Our Jewel Loan facility comes with nil processing fees and requires minimal documentation. Interest rates for this scheme and other retail loan products can be accessed through the link. Turn your gold into an opportunity for growth and financial freedom with a Jewel Loan, and navigate every phase of life with confidence and support from Indian Bank.

For Indian Bank retail customers, OD against Gold Jewels scheme is also available. Click on the link to know more.

Indian Bank. “Your Own Bank, Always with You”

Disclaimer: https://indianbank.in/departments/disclaimer/