Syndicate Bank Jewellery Loan

Hello, I want to know the details of the jewellery loan offered by the Syndicate Bank. Will you please provide me?

[Pathak]

Hello, here I am providing you the details of the jewellery loan offered by the Syndicate Bank as under:

Synd Kisan Swarna (SKS)
Bank provides jewel loans to agriculturists for their agricultural credit needs on easy terms and at low cost

Features:
A hassle free loan product to agriculturists against security of gold ornaments.
Product is designed keeping the various requirements of farmers in mind and able to provide credit instantly.

Interest Rate
11.20% p.a (BR+1.50)
Base Rate (BR): 9.70%

Loan Amount
Upto Rs. 10.00 lakhs for Non priority purposes
Upto Rs. 20.00 lakhs for Business purposes

Eligibility
Existing and new customers who are properly introduced to the Bank.

Scale of Finance
Changes from time to time depending on gold rate. Presently Rs. 1580/- per gram of 22 carat gold OR 66% of Net Value of gold whichever is less.


Repayment Period
12 months

Penal Interest
2% above the applicable rate on all overdue loans.

Documents Required
Signed Application Form
2 Passport Size Photographs
ID and Address Proof

Facility:
Facility is available at rural and semi-urban branches. However, urban /Metro branches with or without service area villages can extend the facility to existing farm loan clients. Fresh farm loan clients are required to produce documentary proof confirming that he is an agriculturist.