Gold Over Draft

• Interest Rate / PLR
• Personal Loan
• House Rent Loan
• Short Term Edu. Loan
• Education Loan
• Doctor Loan
• Two Wheeler's Loan
• Car Loan
• Home Loan
• Gold Over Draft
• General Credit Card
• Pensioner Loan

Learn more about our Gold Over Draft Loan Scheme under TMB Retail Loan Products.

Our Gold OD Scheme can help you encash on the gold / jewellery that you have already invested in to pledge it with the bank and avail loan on the same. The terms and conditions are simple and documentation is easy. Even the interest rates are down to earth.

Purpose

Agriculture & Allied activities and General purpose.

Eligibility

Any Individual who is competent to enter into a valid contract and to create pledge except financiers, jewellers, & jewellery shop owners.

Amount Permissible

Rs.475/- per gram or 80% of appraiser / market value whichever is less.

Part Release

Not Permitted.

Loan Quantum

Minimum Rs. 25,000.00 and Maximum Rs. 5,00,000.00.

Nature of Limit

Overdraft. Facility to draw with ATM card is permitted and optional. At any point of time, a customer should have one TMB GOLD OD account only.

Repayment

Maximum of 24 months Equated Monthly Installments. For Salaries persons, EMI should not exceed 40% of take home salary.

Primary Security

Gold Jewels and Gold Coins (excluding repledge). Condition: Weight and value of the Precious stones embedded in the Gold Jewels should be disregarded.

Rate of Interest

• For Agricultural Purpose Upto Rs. 50,000.00 - PLR - 3.75% (9.25% p.a.).
• For Agricultural Purpose above Rs. 50,000.00 - PLR - 2.75% (10.25% p.a.).
• For General Purpose Upto Rs. 2,00,000.00 - PLR - 2.50% (10.50% p.a.).
• For General Purpose above Rs. 2,00,000.00 - PLR - 1.50% (11.50% p.a.).
• For Non Hallmarked Jewels, 0.25% additional rate of interest will be charged.
• Current Prime Lending Rate (PLR) is 13.00% p.a.

Minimum Interest

• For Agricultural Purpose Rs. 90.00.
• For General Purpose Rs. 125.00.
• Minimum 15 days interest for the OD Limit or Above whichever us higher.

Jewel Appraiser Charges

Rs. 4.00 per Thousand subject to a maximum of Rs. 100.00

ATM Card Charges

Nil - It's Free...

Penal Interest

Any irregularity or default in repayment will attract penal interest of 2.00% p.a. over and above the above rate of interest on the balance outstanding.

Processing Charges

Rs. 25.00 per lakh, subject to a minimum of Rs. 50.00

Operational Procedures

Including Servicing of Interest, Folio Charges, etc. - as per extant procedures applicable to Overdraft facility.

Documentation

As applicable to the existing Agriculture Jewel / Ordinary Jewel loans plus OD continuity letter (Form No.237).

All the above Terms and Conditions are subject to change and sanctioning of the loans is at the sole discretion of the Bank. Service Tax on All Service Charges extra wherever applicable.