Gold Loan

1. ICL VANITHA SURAKSHA (ICL-VS)

Scheme Name	Short Name	LTV	Period	Rate of Interest(Per annum)	Service Charge	Maximum Loan Amount
ICL Vanitha Suraksha	ICLVS	50%	Up to 3Months	12%	25	10,000/-
				>3 to 6 Months	18%
				>6 to 9 Months	22%

• Service charge will be collected at the time of settlement.
• This scheme is only for  Ladies customer.
• Maximum amount Limited to 10,000 per Loan.

2. ICL SUKRUTHAM (EMI-SU)

Scheme Name	Short Name	LTV	Period	Rate of Interest(Per annum)	Service Charge	Maximum Loan Amount
ICL Sukrutham	EMI-SU	75%	18 Months (Monthly Installment Basis)	9%	25	No Limit

• If customer try to settle the pledge before due date, it will be considered as premature closing.
  So the interest rate changed to 24%.
• 3 Days grace period available each EMI Payments.
• 18% penalty charged for delayed EMI Payments.

3. ICL 104 GOLD LOAN (ICL-104)

The details of the scheme are as follows:

Scheme Name	Loan Amount	Interest Rate	LTV	Duration	Processing Charge
ICL-104	Up to 25 lakhs	18%	75%	120 days	Rs.50/-(At the time of settlement)

• This is a monthly interest payment scheme.
• Closing charges Rs.50/- will be collected at the time of settlement.
• Interest to be paid on or before each 30 days from the date of disbursement/ previous interest payment.
• There will be 2% hike on interest rate for each 30 days if the customer does not pay full interest on monthly due date, for the entire outstanding amount.
• After the loan duration, Rate of interest will be 29%.

Slab Rates:

Sl No	Days	Interest Rate
1	1-30 Days	18%
2	31-60 Days	20%
3	61-90 Days	22%
4	91-120 Days	24%
5	Above 120 Days	29%

4. ICL 106 GOLD LOAN (ICL-106)

The details of the scheme are as follows:

Scheme Name	Loan Amount	Interest Rate	LTV	Duration	Processing Charge
ICL-106	Up to 25 lakhs	22%	75%	270 days	Rs.50/- (At the time of settlement)

• This is a 90 days (Quarterly) interest payment scheme.
• Interest to be paid on or before each 90 days from the date of disbursement/ previous interest payment
• There will be 2% hike on interest rate for each 90 days if the customer does not pay full interest on quarterly due date, for the entire outstanding amount
• After the loan duration, Rate of interest will be 28%.
• Processing charges Rs.50/- will be collected at the time of settlement.

Slab Rates:

Sl No	Days	Interest Rate
1	1-90 Days	22%
2	91-180 Days	24%
3	181-270 Days	26%
4	Above 270 Days	28%

 

5. ICL-111 GOLD LOAN

Scheme Name	Loan Amount	Interest Rate	LTV	Duration
ICL-111	No Limit	16%	75%	180 Days

• This is a 30 days interest shifting scheme.
• There is a Processing Charge of Rs.50 collected in advance.
• Interest to be paid on or before 30 days from the date of disbursement or previous complete interest payment.
• There will be 2% hike on the interest rate for each 30 days, if the customer does not pay full interest for the entire outstanding amount; subject to maximum applicable rate is 30% on non-payment of interest more than 180 days. Revised interest rates will be charged from the loan commencement date.
• After the loan duration on non-renewal, the rate of interest will be 30%, which will be chargeable for the entire non-interest payment period.
• Applicable to Kerala region only

Slab Rates:

Sl No	Days	Interest Rate
1	1-30 Days	16%
2	31-60 Days	18%
3	61-90 Days	20%
4	91-120 Days	22%
5	121-150 Days	24%
6	151-180 Days	26%
7	Above 180 Days	30%

6. ICL 112 GOLD LOAN(ICL-112)

The details of the scheme are as follows:

Scheme Name	Loan Amount	Interest Rate	LTV	Duration
ICL-112	Up to 25 lakhs	20%	70%	180 days

• This is a 30 Days interest payment scheme.
• Interest to be paid on or before each 30 days from the date of disbursement/ previous interest payment.
• There will be 2 % hike on the interest rate for each 30 days if the customer does not pay full interest on the due date, for the entire outstanding amount.
• After the loan duration, the Rate of interest will be 30%.
• Applicable to Odisha Branches only.
• Effective from 25/08/2021

Slab Rates:

Sl No	Days	Interest Rate
1	1-30 Days	20%
2	31-60 Days	22%
3	61-90 Days	24%
4	91-120 Days	26%
5	121-150 Days	28%
6	151-180 Days	30%
7	Above 180 Days	30%

7. ICL 113 GOLD LOAN  (ICL-113)

The details of the scheme are as follows:

Scheme Name	Loan Amount	Interest Rate	LTV	Duration
ICL-113	Up to 25 Lakhs	22%	70%	180 days

• This is a 60 Days interest payment scheme.
• Interest to be paid on or before each 60 days from the date of disbursement/ previous interest payment.
• There will be 4 % hike on interest rate for each 60 days if the customer does not pay full interest on due date, for the entire outstanding amount .
• After the loan duration, Rate of interest will be 30%.
• Applicable to Odisha Branches only.
• Effective from 25/08/2021.

Slab Rates:

Sl No	Days	Interest Rate
1	1-60 Days	22%
2	61-120 Days	26%
3	121-180 Days	30%
4	Above 180 Days	30%

8. ICL 114 GOLD LOAN (ICL-114)

The details of the scheme are as follows:

Scheme Name	Loan Amount	Interest Rate	LTV	Duration
ICL-114	No Limit	22%	75%	180 days

• This is a 30 Days interest payment scheme
• Interest to be paid on or before each 30 days from the date of disbursement/ previous interest payment.
• There will be 2% hike on interest rate for each 30 days if the customer does not pay full interest on due date, for the entire outstanding amount .
• After the loan duration, Rate of interest will be 32%.
• Applicable to Odisha Branches only.
• Effective from 02/09/2021

Slab Rates:

Sl No	Days	Interest Rate
1	1-30 Days	22%
2	31-60 Days	24%
3	61-90 Days	26%
4	91-120 Days	28%
5	121-150 Days	30%
6	151-180 Days	32%
7	Above 180 Days	32%

9. ICL 115 GOLD LOAN (ICL-115)

The details of the scheme are as follows:

Scheme Name	Loan Amount	Interest Rate	LTV	Duration
ICL-115	No Limit	24%	75%	180 days

• This is a 60 Days interest payment scheme.
• Interest to be paid on or before each 60 days from the date of disbursement/ previous interest payment.
• There will be a 4% hike on interest rate for each 60 days if the customer does not pay full interest on due date, for the entire outstanding amount.
• After the loan duration, Rate of interest will be 32%.
• Applicable to Odisha Branches only.
• Effective from 02/09/2021.

Slab Rates:

Sl No	Days	Interest Rate
1	1-60 Days	24%
2	61-120 Days	28%
3	121-180 Days	32%
4	Above 180 Days	32%

 

10.ICL 119 GOLD LOAN (ICL-119)

The details of the scheme are as follows:

Scheme Name	Loan Amount	Interest Rate	LTV	Duration	Processing Charge
ICL-119	Up to 25 lakhs	18%	75%	180 days	Rs.50/- (At the time of settlement)

• This is a 60 days interest payment scheme.
• Closing charges Rs.50/- will be collected at the time of settlement.
• Interest to be paid on or before each 60 days from the date of disbursement/ previous interest payment.
• There will be 2% hike on interest rate for each 60 days if the customer does not pay full interest on monthly due date, for the entire outstanding amount.
• After the loan duration, Rate of interest will be 28%.

Slab Rates:

Sl No	Days	Interest Rate
1	1-90 Days	22%
2	91-180 Days	24%
3	181-270 Days	26%
4	Above 270 Days	28%

 

11.ICL 120 GOLD LOAN SCHEME (ICL-120)

The details of the scheme are as follows:

Scheme Name	Loan Amount	Interest Rate	LTV	Duration	Processing Charge
ICL 120	Up to 10,00,000/-	14%	60%	180 days	Rs.50/-(At the time of Disbursement)

• This is a 30 days interest payment scheme.
• Interest to be paid on or before each 30 days from the date of disbursement/ previous interest payment.
• There will be a 3% hike on the interest rate for each 30 days if the customer does not pay full interest on the monthly due date, for the entire outstanding amount.
• After the loan duration, Rate of interest will be 29%.
• Processing charges Rs.50/- will be collected at the time of disbursement. 
• If the customer wants to close the loan within 7 days, he has to pay a minimum of 7 days' interest.
• Applicable to all branches
• Effective date 28/05/2022.

Slab Rates:

Sl No	Days	Interest Rate
1	1-30 Days	14%
2	31-60 Days	17%
3	61-90 Days	20%
4	91-120 Days	23%
5	121-180 Days	26%
6	Above 180 Days	29%

 

12. ICL-124 GOLD LOAN

Scheme Name	Loan Amount	Interest Rate	LTV	Duration
ICL-124	No Limit	16%	70%	180 Days

• This is a 30 days interest shifting scheme.
• There is a Processing Charge of Rs.50 collected in advance.
• Interest is to be paid on or before 30 days from the date of disbursement or previous complete interest payment.
• There will be a 2% hike on the interest rate for every 30 days if the customer does not pay full interest for the entire outstanding amount; subject to the maximum applicable rate is 30% on non-payment of interest for more than 180 days. Revised interest rates will be charged from the loan commencement date.
• After the loan duration on non-renewal, the rate of interest will be 30%, which will be chargeable for the entire non-interest payment period.
• Applicable to outside Kerala
• Effective date 28.2.2023

Slab Rates:

Sl No	Days	Interest Rate
1	1-30 Days	16%
2	31-60 Days	18%
3	61-90 Days	20%
4	91-120 Days	22%
5	121-150 Days	24%
6	151-180 Days	26%
7	Above 180 Days	30%