Jewel Loan Interest Rate in South Indian Bank

I want to take Gold Loan from South Indian Bank to purchase Jewelry so can you please tell me the interest rate on Gold Loan in this bank?

[Shaleen]

South Indian Bank Limited (SIB) is a private sector bank headquartered at Thrissur City, Kerala, India. It was established in 1929. South Indian Bank has 831 branches, 4 service branches,33 ext. counters and 20 regional offices spread across more than 26 states and 3 union territories in India.

Gold Loan Monthly Interest-

Purpose of the loan: For meeting personal/family/business/finance requirements/other unforeseen requirement.

Minimum Amount of Advance : Rs. 5000

Maximum Amount : Rs.5.00 Crores

Security : Pledge of 22ct Gold jewellery/ornaments

Period of Loan : 12 months

Cutoff date for conducting auction : 13 Months

Minimum Interest: Minimum for 5 days or Rs. 50/- whichever is higher.

Rate of Interest-

Gold Rush Scheme 12% (Fixed)
Gold Max Scheme (For other purpose) 12% (Fixed)
Gold Max Scheme (For Agricultural purposes) 10.5%(Fixed)
Gold Loan General 12%(Fixed)
Gold Loan Agri 10.5%(Fixed)
Gold Loan Agri up to & incl 3 lakhs-Interest Subvention 7%(Fixed)
Gold Loan - Other Priority Sector (other than Agriculture Gold loan) 12%(Fixed)
Gold Max Plus 12%(Fixed)
Gold Loan Monthly Interest Payment 12%(Fixed)
Gold Power -Indvidual BR + 2.50 %
Gold Power -Business/Self employed BR + 2.50%
Gold Power -Re-pledge BR + 2.75%