Jewel Loan
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 |
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| 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.)
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| 7. Assessment | For Retail Jewel Loan credit assessment including repayment capacity to be done by obtaining the income proof of the applicant as detailed below: √ Retail Jewel Loans up to ₹2.50 lakh (Bullet repayment option upto Rs.2.20 lakhs): Can be sanctioned based on the borrower’s declaration of annual income or income proof viz., ITR/payslip, etc.√ Retail Jewel Loans above ₹2.50 lakh (Bullet repayment option above Rs.2.20 lakhs): Obtention of valid income proof (ITR, Form 16, Other documents if any) is mandatory. Detailed credit assessment, including assessment of borrower’s repayment capacity shall be undertaken. |
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| 8. Advance value/ LTV/ Trigger LTV |
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| 9. Disbursement | The loan proceeds to be credited to the Bank account of the borrower maintained with our Bank | ||||||||||||||||||||||||||||||||||||||||||||
| 10. Interest Rate | Click Here | ||||||||||||||||||||||||||||||||||||||||||||
| 11. Processing Fee | Click Here | ||||||||||||||||||||||||||||||||||||||||||||
| 12. Repayment Period |
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