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ADV - 80 Upward Revision in Loan To Value (LTV) of Gold Ornaments For Sanctioning Agri Jewel Loan - 16-06-2022 - 220616 - 171432

The document discusses increasing the loan to value ratio for agricultural jewel loans from 80% to 85% to be more competitive. It provides the revised lending rates and margins effective June 17th. Field staff are advised to promote the increased LTV and rates to attract more customers.

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Lipsa Dhal
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39 views1 page

ADV - 80 Upward Revision in Loan To Value (LTV) of Gold Ornaments For Sanctioning Agri Jewel Loan - 16-06-2022 - 220616 - 171432

The document discusses increasing the loan to value ratio for agricultural jewel loans from 80% to 85% to be more competitive. It provides the revised lending rates and margins effective June 17th. Field staff are advised to promote the increased LTV and rates to attract more customers.

Uploaded by

Lipsa Dhal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Main ADV- 80 / 2022-23 Date 16/06/2022

Sl.no 20987
Sub Rural Lending - 25 CO: Rural Banking Department File M-2 S- 201

Sub: Upward revision in Loan to Value (LTV) of Gold Ornaments


for sanctioning Agri Jewel Loan

Agri Jewel Loan is the Star Product of our Bank, which constitute 12% of our domestic
advances involving 43 lakh accounts with lowest NPA of 0.13%. More than 2200 branches
are lending Jewel Loan under Agriculture.

Presently Agri Jewel Loans are sanctioned with LTV of 80%. In order to have edge over other
peer banks / other players in the market and to woo more customers to avail Agri Jewel Loan
from us, our competent authority has approved the following which will be implemented from
17.06.2022.

Product Code: 8501 0002 - RBD-AGRI JEWEL LOAN-REPO


Existing Revised w.e.f. 17.06.2022
Loan to Value (LTV) 80% 85%
Margin 20% 15%
Per Gram lending rate Rs.3,770/- per gram or 80% Rs.3,950/- per gram or 85% of
for 22 Carat of the market value of the the market value of the jewel
jewel whichever is lower for whichever is lower for 22 carat
22 carat fineness. fineness.
Per Gram lending rate Rs.3,820/- per gram or 80% of Rs.4,000/- per gram or 85% of
for 22 Carat Hallmark / the market value whichever is the market value whichever is
Gold Coin of 24 Carat lower for Hall Mark jewels of lower for Hall Mark jewels of 22
22 carat / gold coins of 24 carat / gold coins of 24 carat
carat fineness. fineness.

Further, existing product: RBD- Bumper- Agri-JL product (8502 0002) will be sunset from
17.06.2022.

All the field functionaries are advised to popularise our Agri Jewel Loan product highlighting
Highest LTV (85%) and per gram lending rate and bring more number of new customers into
our fold. As LTV for Agri Jewel Loan is increased to 85%, branches should closely followup
and initiate timely action to ensure that Agri Jewel Loans are closed within 18 months of
sanction.

Chandrasekaran. V
General Manager (RBD)

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