Swarnamitra

Swarnamitra is an overdraft facility against your Jewels for Business purposes.

Features and Benefits
  • It is an Overdraft / Short Term Loan.
  • It is specific to individuals who own gold jewellery.
  • The loan is specifically for commercial purposes.
Charges and Limits
Minimum Loan Amount Rs. 1 Lakh
Repayment Tenor 12 Months (Overdraft Facility). The Limit can be renewed for a further period of 12 months, subject to the discretion of sanctioning authority.
Primary Security Pledge of gold jewellery with a minimum purity of 22 Carats and Gold Ingots sold by banks.
Collateral Security Nil (Optional)
Guarantee Nil (Optional)
Other Terms & Conditions
  • Interest to be serviced monthly.
  • At the time of renewal Drawing Power shall be fixed based on the Prevailing Gold Rates, as notified by the bank.
  • The facility shall be availed only by the owners of gold jewellery.
  • No exchange of Jewellery/ies is / are permitted.
  • Once an overdraft account becomes irregular or overdue, all the provisions applicable to jewel Loans (Recovery by auction etc.,) shall be applicable.

Note: For processing charges & other charges, contact nearby branches.

Interest Rate
Nature of Facility Rate of Interest
Swarnamitra Commercial One year MCLR + 1.45 %
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