Central Bank Of India Jewel Loan Interest Rate

Hey buddy can you please tell what is the interested offered by the Central Bank of India for gold loan and silver loan and please also get some details about the loan?

[Kiran Chandar]

As per your demand I will help you here to get the details about the interest rate of gold loan to be charged by the Central Bank Of India and further more I will get some details about the loan.

Here is the details about the interest rate on Jewellery offer by the Central Bank Of India.

Rate of Interest
Demand Loan - Base Rate + 1% p.a.

Overdraft - Base Rate + 2% p.a.

Limit upto Rs.50,000/- Base Rate + 0.50%

Above Rs.50,000/- upto Rs.5.00 lacs Base Rate + 1.00%

Above Rs.5.00 lacs upto Rs.25.00 lacs Base Rate + 1.50%

Above Rs.25.00 lacs Base Rate + 2.00%


Here are the further details about the loan sension.

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


Maximum Loan Amount.
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.


Security to be taken while providing loan to the customer.
Pledge of gold ornaments of 22 Carat purity or Gold Coins sold by our Bank.