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Old 23rd February 2016, 12:17 PM
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Join Date: May 2012
Default Re: Punjab National Bank Jewel Loan

Hello, here I am providing you the details of the jewel loan of the Punjab National Bank as under:

Purpose
For productive purposes such as agricultural/allied and other activities as well as for non-productive purposes (meeting medical, educational, marriage expenses and other unforeseen expenses etc.)

Quantum of Finance
Productive purposes - Need based, without ceiling.
Non-productive purposes - Max. Amount of Loan - Rs.10.00 lacs.

Margin
25%

Rate of Interest
a. Productive Purposes (Agriculture) upto Rs 10 lacs) – BR+1.50%
b. Productive Purpose (other purpose) – BR+2.50%
c. Non- productive purpose (ceiling Rs 10.00 lacs)– BR+2.50%

Processing Charges/Upfront fee/ Documentation Charges
Upfront Fee: 0.70% + ser. tax & edu. cess.
Documentation Charge: Up to Rs.2 lacs: Rs.270/-; &
: Over Rs.2 lacs Rs.450/- (plus service tax)

Security
Gold jewellery ornaments and Gold coins issued by any scheduled bank/ bank.

Valuation
Rates 22 carat gold for the purpose of financing to be advised by RADHO at prescribed intervals (presently monthly basis). In case Gold with purity less than 22 carat is accepted as security, the value be converted proportionately into 22 carat for financing under the Scheme

Repayment (Maximum)
Loans for Agricultural Purposes:

Interest is required to be recovered at yearly/half yearly intervals coinciding with the harvesting of crops. However, the account to be adjusted within a maximum period of 12 months or as and when demanded. OD facility to be renewed annually.
i.The loan may be repaid in 12 Equated Monthly Installments (EMIs)
ii.The loan may be repaid in four Quarterly installments.

Loans for Non Agricultural Purposes (Productive & Non productive):

Regular servicing of interest as and when levied. Principal being repayable within 12 months or as and when demanded. OD facility to be renewed annually.
i.The loan may be repaid in 12 Equated Monthly Installments (EMIs).
ii.The loan may be repaid in four Quarterly installments.
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