GOLD JEWEL LOAN
Having an urgent need of cash, make the most of your idle gold with KMBSNL’s attractive gold loans. Get a loan in 09 minutes with minimal documentation and transparent charges.
KANDAN MUTUAL BENEFIT SASWATHA NIDHI LTD., Gold Loan provides loan against gold with same day loan disbursement. You can apply for Gold Loan and get quick approvals by visiting your nearest Branch. Find out more about the features & benefits of the Gold Loan.
We are using an advanced Karat Machine – Gold Analyser machine for assessing the jewel proposals for loan which would give us the correct valuation for the purpose of valuation of gold.
Gold Jewel Loan
Granting of Gold Loans to individuals against pledge of gold jewelry / Ornaments for productive and consumption/domestic purposes.
Key Features of Gold Jewel Loan
Minimal Documentation
Utmost safety of your gold
Instant loan
Processing and Approval
Fast Approval
Gold Jewel Loan - Eligibility
| Purpose | Granting of Gold Loans to individuals against pledge of gold jewelry/ornaments for productive and consumption/domestic purposes. |
| Eligibility | Applicant should be registered as a Member in KANDAN MUTUAL BENEFIT SASWATHA NIDHI LTD., He/ She should be the owner of the gold jewelry/ornaments proposed to be pledged.Gold Loans can be granted only against 19 carat to 22 carat ornaments. |
| Documents needed to avail our Gold jewel loan | PAN card, Aadhar card and a passport size photo. |
| Repayment Period | 12 months (365 days) |
Rate of interest (ROI)
| Gold Loan Scheme | Rate of Interest | Mode of payment | Tenure |
|---|---|---|---|
| Scheme 1 -KL | 9.6% | NEFT / Cheque/ Cash | 06 Months |
| Scheme 2 -JL | 11.4% | NEFT / Cheque/ Cash | 12 Months |
| Scheme 3 -VL | 12.6% | NEFT / Cheque/ Cash | 09 Months |
| Scheme 4 -SL | 10.8% | NEFT / Cheque / No Cash | 09 Months |
Rate per gram
| Gold Loan Scheme | KDM Gold Jewels | Ordinary Gold Jewels |
| Scheme 1 -KL | 4000/- | 3850/- |
| Scheme 2 -JL | 4300/- | 4150/- |
| Scheme 3 -VL | 4400/- | 4150/- |
| Scheme 4 -SL | 4300/- | 4150/- |
Gold Jewel Appraiser Charges
| For scheme 1 | KL:0.2 % on the Loan Amount (including + 18% [GST]) |
|---|---|
| For scheme 2 | JL:0.2 % on the Loan Amount (including + 18 % [GST]) |
| For scheme 3 | VL:0.2 % on the Loan Amount (including + 18% [GST]) |
| For scheme 4 | SL:0.2 % on the Loan Amount (including + 18% [GST]) |
Condition and Others
| Notice Charges (w.e.f 2023 March) | If Interest is not paid for 6 months and above, the First Notice of Payment will be send Rs.150/- per account by Registered Post. |
|---|---|
| Second Notice | Sale Intimation by the AuctioneerRs.200/- per account. |
| Final Notice | For sale of Jewels and publication in NewspaperRs.250/-per account |
| After sale by the Auctioneer | Rs.1500/-per account + 2% on the sale Proceeds per account. |
| Interest rate structure | On servicing the full interest monthly, ROI is same (as per the scheme chosen) for the entire 1year. Interest is payable every month, if Interest is not paid regularly unpaid interest will be compounded to the principal and Interest will be charged on the total amount outstanding at the end of the each Month and no additional Interest will be charged over existing ROI till the end of period of Loan. The loan account on completion of period of loan or 1 year will become overdue and it should either be closed or renewed under the then prevailing jewel loan schemes. Moreover, auction process on completion of the tenure will be initiated to recover the dues, as per norms in force. |
| Mode of payment | Cash payment is restricted to Rs.20000/- and loan proceeds in excess of Rs.20000 will be released through Bank transfer by way of NEFT/RTGS/Bank transfer. As loan subsequent closure of such accounts shall happen only through bank credit and not by cash remittance (for queries call our customer support center). |
| Rate of Interest | Every month interest is calculated on Daily Basis on the total outstanding at the end of the month, subject to a min 15 days interest. |
Frequently Ask Questions
If you have a question about our loan products , feel free to contact our customer care
Apply Online
Now apply for a Loan online, All you need to do is provide your details in below application form.