CHEMM FINANCE LTD
NBFC REGISTRED WITH RESERVE BANK OF INDIA(NO. B -02.00035)
PRODUCTS
GOLD LOANS |
| Security |
22 ct gold ornaments |
| Rate per gram |
75% of the gold rate as per India Bullion and Jewellers Association Ltd.
If the purity of the gold is less than 22 carats, the NBFC shall convert the collateral into 22 carat and state the exact grams of the collateral. In other words, jewellery of lower purity of gold shall be valued proportionately. |
| Period of loan |
Maximum 12 Months |
| Rate of interest |
Guided by the market conditions and various rules and regulations, if any, prescribed by the Reserve Bank of India or such other competent authority from time to time.
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Gold Appraisal Procedure: Acid & stone method, spectrometer, specific density method.
Gold Loan Interest Rates And Charges |
| Interest Rate |
(Compounded monthly)
Up to 30days – 18%
31 D to 60 D – 20%
61 D to 90 D – 21%
91 D to 365 D – 22% |
| Processing Fee |
0.10% with max of Rs 200 |
| Penal Charges |
Max 3% (Applicable beyond 365 days) |
| Stamp Duty and other statutory charges |
As per applicable laws of the state |
| Auction Charges |
Actual + GST |
| Overdue Notice Charges |
Actual + GST |
| SMS Charges |
NILL |
| Part-Payment Charges |
NILL |
| Pre-Closure Charges |
NIL
Minimum of 15 days interest will be charged if loan is closed within 15 days |
SECURED NON CONVERTIBLE DEBENTURES |
Debenture Rate of Interest (w.e.f June 2024) |
| Period |
Interest Quarterly |
| 3 years |
10.50% |
| Minimum Period |
36 Months |
| Minimum Amount |
Rs. 300,000 |
| Maximum Amount |
Rs. 100 Lakh |
| Secured by charge on Assets of the Company |
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