TMB Gold Overdraft

Features and Benefits

The fastest way to get funds for personal or business requirements. Apply for gold overdraft and let your gold work for you to fulfill all your financial needs.

Overdraft

Minimum : Rs.1,00,000/-

Maximum : For Agriculture purpose- Rs.500000/-

For General Purpose - Rs.1000000/-

Eligibility and Terms

Any Individual who is competent to enter a valid Contract and to create Pledge except pawn brokers.

Overdraft facility: OD limit:

Minimum: Rs.100,000/-
Maximum: Rs.20,00,000/-

Margin: 25%

Security & Features

Security: Pledge of 22 Carat Gold Ornaments & Jewellery:

Gold Coins, Bars, Bullions etc., will not be accepted. However specially minted gold coins issued by Banks up to 50 grams per individual can be accepted.

Condition:

Weight and value of the Precious Stones embedded in the gold Jewellery will be disregarded

Facility to draw with ATM card is permitted – Optional.

Part release is permitted. (Maximum twice during the loan period -12 months).

During partial release, the pledged jewels are to be reappraised by the JL appraiser and fresh loan value to be arrived based on the prevailing market rate /Bank prescribed rate whichever is lower. Drawing power of Overdraft limit will be fixed as per reappraised value with adequate margin.
Appraiser fee will be charged at 50% of normal appraisal charges.

Interest and Fees

Rate of interest:

Click here to know the Rates of Interest for loans

Repayment:

12 Months (renewable)

Fees & Charges (Excluding applicable GST):

Rs.1 lakh to Rs.5 lakhs – Rs.500/- + GST
Above Rs.5 lakhs to Rs.10 lakhs – Rs.1000/- + GST
Above Rs.10 lakhs to Rs.20 lakhs – Rs.2000/- + GST

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