75%<\/em><\/strong> <\/td>| Up to 75% However, as per a notification issued by the RBI on 06.08.2020, the limit has been increased to 90% from 75% till 31.03.2021 due to COVID-19 pandemic. That means the LTV will again be 75% from 01.04.2021. <\/td> | Less than 75%<\/em><\/strong> <\/td><\/tr>\n Processing Fee<\/strong>\n <\/td>No<\/em><\/strong> Processing<\/em><\/strong> and Appraisal <\/em><\/strong>Fee <\/td>| No Processing and Appraisal Fee is charged for Small Token Loans. However, both Processing and Appraisal Fee is charged for High Token Loans. <\/td> | Not<\/em><\/strong> Applicable <\/td><\/tr>\n Rate of Interest <\/strong>\n <\/td>11 <\/em><\/strong>to 24%<\/em><\/strong> per annum <\/td>7 <\/em><\/strong>to 15%<\/em><\/strong> per annum
And 4%<\/em><\/strong> per annum for Agricultural <\/em><\/strong>Purpose <\/td>20<\/em><\/strong> to 25%<\/em><\/strong> per annum <\/td><\/tr>\n Maximum Loan Amount<\/strong>\n <\/td>No<\/em> <\/strong>specific limit <\/td>Rs 3 lakhs<\/em><\/strong> for Agricultural Loans <\/td>No<\/em> <\/strong>specific limit <\/td><\/tr>\n Penetration<\/strong>\n <\/td>High<\/em><\/strong> <\/td>Low<\/em><\/strong> <\/td>High<\/em><\/strong> <\/td><\/tr>\n Manner of Disbursal<\/strong>\n <\/td>| Cash Payment is allowed up to Rs 20000. Beyond that, the amount is directly transferred to the customer account. <\/td> | The customer must have a Bank Account with the respective bank to avail of a gold loan<\/em><\/strong>. <\/td>Cash<\/em><\/strong> <\/td><\/tr>\n Operating Hours<\/strong>\n <\/td>Open <\/em><\/strong>beyond the business working hours. <\/td>10 <\/em><\/strong>am to 5<\/em><\/strong> pm <\/td>Open <\/em><\/strong>beyond the business working hours. <\/td><\/tr>\n Regulatory Mechanism<\/strong>\n <\/td>RBI <\/em><\/strong> <\/td>RBI<\/em><\/strong> <\/td>No <\/em><\/strong>regulatory mechanism <\/td><\/tr>\n Turnaround Period<\/strong>\n <\/td>5 to 10 minutes<\/em><\/strong> <\/td>1 Hour<\/em><\/strong> <\/td>Less than 10 minutes<\/em><\/strong> <\/td><\/tr>\n Repayment Plans<\/strong>\n <\/td>| Mostly, monthly interest payments together with the principal amount towards the end of EMI based schemes or end of the tenure. <\/td> | Mostly, both interest and principal amounts are made in lump sum at the end of the period. <\/td> | Either Daily Repayments<\/em><\/strong> or Monthly Repayments<\/em><\/strong> <\/td><\/tr>\n Customer Grievance<\/strong>\n <\/td>Core <\/em><\/strong>Focus <\/td>Non-Core<\/em><\/strong> Focus <\/td>Core<\/em><\/strong> Focus <\/td><\/tr><\/tbody><\/table>\n\n\n\n<\/span>Certain Facts about NBFC Gold Loans<\/span><\/h2>\n\n\n\nSome of the <\/em>Important Facts <\/em><\/strong>about <\/em>NBFC Gold Loans<\/em><\/strong> are as follows:<\/em><\/p>\n\n\n\n- Some of the schemes of Gold Loan are meant to be sanctioned only by the Southern India Branches. That means the people living in the southern states can only avail of the benefits of these schemes.<\/li>
- Failure in the Repayment of the loan will result in the auction of the gold kept as collateral;<\/li>
- An individual or MSME can avail of a gold loan facility only against the physical collateral security, including specially minted gold coins with the limit up to 50 grams. That means an NBFC or bank will not provide gold loans against Sovereign Gold Bonds and ETF.<\/li>
- A borrower can easily repay his\/her due interest or loan amount at any branch office. However, for collecting the deposited gold, he\/she needs to visit the branch from where the loan was taken. <\/li>
- It shall be relevant to note that only the value of gold will be calculated in jewellery. That means the value of gems or precious metals will not be calculated for determining collateral security.<\/li>
- A bank will provide Gold Loan only if the applicant has his\/her account in the same. However, the same is not the case with an NBFC.<\/li><\/ol>\n\n\n\n
<\/span>NBFCs that Provide Gold Loans in India<\/span><\/h2>\n\n\n\n
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