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Old 8th October 2016, 04:00 PM
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Default Tamilnad Mercantile Bank Gold Loan Interest Rates

I want to apply for Gold Loan in Tamilnad Mercantile Bank so can you tell me the rate of interest on loan?
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Old 8th October 2016, 04:58 PM
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Join Date: Mar 2013
Default Re: Tamilnad Mercantile Bank Gold Loan Interest Rates

Tamilnad Mercantile Bank provide Gold Over Draft Loan Scheme under TMB Retail Loan Products.

Gold Over Draft Loan Scheme Rate of Interest

HM - Hall Mark Jewellery, Non HM - Non Hall Mark Jewellery

For Agricultural Purpose Upto Rs. 2,00,000 - BR + 2.50% (12.90% p.a.).

For Agricultural Purpose above Rs. 2,00,000- BR + 3.25% (13.65% p.a.).

For General Purpose (HM) Upto Rs. 2,00,000 - BR + 3.00% (13.40% p.a.).

For General Purpose (HM) above Rs. 2,00,000 - BR + 4.00% (14.40% p.a.).

For General Purpose (Non HM) Upto Rs. 2,00,000 - BR + 3.25% (13.65% p.a.).

For General Purpose (Non HM) above Rs. 2,00,000 - BR + 4.25% (14.65% p.a.).

Current Base Rate for Lending (BR) is 10.40% 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 is higher.

Jewel Appraiser Charges-

Rs. 5.00 per Thousand subject to a minimum of Rs. 50.00 and a maximum of Rs. 200.00.

Processing Charges-

Term Loan: 1.00% of Limit sanctioned without any maximum cap.

Working Capital [Fund and Non-Fund Based]: 0.50% of the loan amount without maximum cap.

All India National Toll Free Number: 180 0425 0426
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