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 |
NIL |
| Part-Payment Charges |
NIL |
| Pre-Closure Charges |
NIL
Minimum of 15 days interest will be charged if loan is closed within 15 days |
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PENAL CHARGES |
ದಂಡದ ಶುಲ್ಕ |
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The company has stopped collecting “Penal interest” for the overdue loan sanctioned after 01.01.2024 and substituted the same with “Penal Charges” which will be applied at the time of closure of a loan account.
The charges shall be enabled in the software as detailed below for noncompliance with material terms and conditions at the time of closure of the loan from 01.01.2024.
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ಕಂಪನಿಯು 01.01.2024ರ ನಂತರ ಮಂಜೂರಾದ ಮಿತಿಮೀರಿದ ಸಾಲಕ್ಕಾಗಿ “ದಂಡದ ಬಡ್ಡಿ” ಸಂಗ್ರಹಿಸುವುದನ್ನು ನಿಲ್ಲಿಸಿದೆ ಮತ್ತು ಸಾಲ ಖಾತೆಯನ್ನು ಮುಚ್ಚುವ ಸಮಯದಲ್ಲಿ ಅನ್ವಯಿಸುವ “ದಂಡದ ಶುಲ್ಕ” ದೊಂದಿಗೆ ಅದನ್ನು ಬದಲಿಸಿದೆ.
01.01.2024 ರಿಂದ ಸಾಲವನ್ನು ಮುಚ್ಚುವ ಸಮಯದಲ್ಲಿ ವಸ್ತು ನಿಯಮಗಳು ಮತ್ತು ಷರತ್ತುಗಳಿಗೆ ಹೊಂದಿಕೆಯಾಗದಂತೆ ಈ ಕೆಳಗಿನ ವಿವರವಾದಂತೆ ಸಾಫ್ಟ್ವೇರ್ನಲ್ಲಿ ಶುಲ್ಕಗಳನ್ನು ಸಕ್ರಿಯಗೊಳಿಸಲಾಗುತ್ತದೆ.
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| Penal Charges from due date to 30 days |
2.00% of the irregularity |
| Penal Charges from due date to 31 days to 60 days |
2.25% of the irregularity |
| Penal Charges from due date to 61 days to 90 days |
2.50% of the irregularity |
| Penal Charges from due date to 91 days to closure |
3.00% of the irregularity |
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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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