Other Terms and Conditions

Other Terms and Conditions

  • For closure of Jewel loan, a minimum three days interest of Rs.50/- or actual interest whichever is higher shall be collected.
  • For all jewel loans appraiser fees shall be 0.25% of the loan amount. Minimum fees per loan is Rs.20/- plus tax and maximum is Rs.500/- plus tax.
  • All over due/irregular Jewel loan account and loans over & above Rs.1,00,000/- should be reappraised during August and February every year and applicable charges should be borne by the loan account customer. Accounts once reappraised need not be reappraised again.
  • For Jewel Loans above Rs. 1.00 lakh – Rs.100/- per loan plus tax should be collected as documentation charges.
  • Handling charges for overdue jewel loans
    For loans up to Rs.20,000/- Rs.50/- + tax
    For loans above Rs.20,000/- Rs.100/- + tax
  • Insurance charges for jewel loans
    For loans up to Rs.25,000/- Rs. 25/- + tax
    For loans above 25,000/- but less than 50,000/- Rs.50/- + tax
    For loans above Rs.50,000/- Rs.100/- + tax
  • If the periodical installment and or interest is not paid on the due date, then penal charges @ 2% over and above the applicable rate will be charged on the entire balance outstanding in the loan account from the date of irregularity up to the date of regularization.
  • Minimum interest for the TERM LOAN is one month interest on Loan amount.
  • For all term loans, CIBIL Report charges of Rs.500 per report shall be charged from the borrower before sanctioning of the TERM LOAN. (Except for Pension Loan and Small Business Loan).
  • For second hand Machinery and vehicles, Valuer’s certificate is compulsory and the borrower should pay the applicable charges to the valuer.
  • Documentation charges for all term loans Rs.500/- + tax.
  • For loan against property – Actual valuation charges by Engineer and legal charges by Advocate shall be paid by the borrower.
  • The borrower has to pay the inspection charges of Rs.500/- if the Property is located within the city limit and Rs.500/- plus actual expenses if the property is located outside the city limit.
  • All the assets created out of our loan should be insured to the required value. The collateral security offered should also be insured.
  • Proposal processing charges of 1%+Tax on the sanctioned term loan amount shall be charged upfront.
  • Memorandum Of deposit of Title Deed (MOTD) shall be created in respect of equitable mortgages of immovable properties and applicable stamp duty & charges shall be borne by the borrower.