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Gold Loan

Gold Loan
Service

Gold Loan

Walk into any of ICL branches and receive money against pledging of your gold ornaments. The Sales executive at our branches will take care of all the procedures. The loan amount against your ornament will depend upon the rate of Gold on that particular day and also its purity. Our Sales Executive at the branch will accordingly inform you the details.

ICL Fincorp Limited Gold Loan

The customer is entitled to receive back the gold pledged after the loan amount with complete interest has been paid. If a customer fails to repay the amount within the due date, ICL might decide to auction off gold to recover the dues. However, the customer will be given ample intimations before such a decision will be taken.

ICL Gold loan service has many products specially designed to cater to customer's varied requirements. ICL is the only company that has a gold loan product with the lowest interest rate of 9% in the industry.

The salient features of our Gold Loan service are as follows:

  • Simple and easy procedures with minimum documentation
  • Quick disbursal of loan
  • Options to repay the loan on an installment basis
  • No Gold evaluation charge
  • High security with strong room and CCTV
ICL Fincorp Limited 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 105 GOLD LOAN (ICL-105)

The details of the scheme are as follows:

Scheme Name Loan Amount Interest Rate LTV Duration Processing Charge
ICL-105 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%

5. 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%

6. ICL 107 GOLD LOAN SCHEME (ICL-107)

The details of the scheme are as follows:

Scheme Name Loan Amount Interest Rate LTV Duration Processing Charge
ICL 107 Up to 10,00,000/- 14% 75% 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 Coimbatore, Kanyakumari, and the Bangalore region.
  • Effective date 20/10/2021.

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%

7. ICL 110 EMI GOLD LOAN (ICL-110)

The details of  the scheme are as follows:

Scheme Name Loan Amount Interest Rate LTV Duration
ICL-110 Up to 25 lakhs 8.33%  70% 90 days
  • This is a Monthly Instalment payment scheme (EMI Scheme).
  • Interest for the loan tenure will be collected initially.
  • 0.5% of the loan amount is a processing charge collected initially.
  • The loan amount will be collected in 3  equal installments.
  • 90 days interest scheme.
  • After loan tenure, 28% interest will be charged for the outstanding balance.
  • For delay in instalment, 2% of the instalment will be charged every month.
  • If the loan is not closed within the due date ornaments will be auctioned.
  • LTV 70% only.
  • Applicable in All branches.

8. 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 Pan India.

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%

9. 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%

10. 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%

11. 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%

12. 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%

13. ICL 116 GOLD LOAN (ICL-116)

The details of the scheme are as follows:

Scheme Name Loan Amount Interest Rate LTV Duration
ICL-116 Up to 10 lakhs 8.33% 75% 90 days
  • This is a Monthly Interest payment scheme.
  • Interest to be paid on each 30 days.
  • 0.5% of the loan amount is processing charge collected initially.
  • There will be 7% 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.
  • 90 days interest scheme.
  • After loan tenure, 29% interest will be charged for the outstanding balance.
  • If the loan is not closed within the due date ornaments will be auctioned.
  • LTV 75% only.
  • Applicable to all Kerala and Chennai branches.
Sl No Days Interest Rate
1 1-30 Days 8.33%
2 31-60 Days 15.33%
3 61-90 Days 22.33%
4 Above 90 Days 29%
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