Central Bank Of India Jewel Loan Interest

I recently opened an account in the Central Bank of India and planning to take jewel loan from here searching for loan taking details. Will you please provide all details related to taking Jewel loan from Central Bank of India and also tell what the interest rate along with processing fee?

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Central Bank of India is a government-owned bank, is one of the oldest and largest commercial banks in India.

Central Bank Of India Jewel Loa details:

Personal Gold Loan

Purpose

To meet urgent personal expenses like marriage / medical / educational needs etc

Rate of Interest

Demand Loan - Base Rate + 1% p.a.
Overdraft - Base Rate + 2% p.a.

Quantum of loan

Minimum- Rs 10000/ - Maximum Rs.20,00,000/-

Maximum Limit of loan per gram

Rs.2000/- per gram of gold ornaments or 70% of the current market price of 22 carat gold whichever is less.
In case of gold coins sold by our Bank Rs.2100/- per gram of gold coins, or 70% of the current market price of 24 carat gold whichever is less.
The weight of coin(s) pledged should not exceed 50 grams per borrower in case of advance against security of gold coins.
Drawing power to be revised suitably on monthly basis based on the market value of gold.

Repayment

12 to 36 Months.
In the case of overdraft facility, the limit to be reviewed on annual basis

Processing Fees

0.5% of the loan amount plus applicable Appraiser Fee.
OD renewal charges 0.25% of limit

Contact:

Corporate Office:

Central Bank of India
Chander Mukhi, Nariman Point
Mumbai – 400 021
Tel.: 022 – 6638 7777

Call Center Toll Free No ( 24 hours ) .-1800 200 1911