Ø      Eligibility :

à  All Farmers.

à  SB account is not required for Jewel loan upto Rs 50,000- for first time availment of jewel loan. Only proper introduction acceptable to BM is required.

Ø      Purpose :

  à  To meet the short-term credit requirements for purchase of inputs like fertilizers, pesticides, seeds and other genuine expenses for carrying out the seasonal agricultural operations.

Ø      Amount of loan :

à    Quantum of loan amount should be determined based on the scale of finance fixed for individual crops subject to the maximum advance value based on the Net Weight of jewel ornament fixed from time to time, which is now pegged at  Rs 600 per gram or 70% of market value of the jewels to be pledged whichever is lower.

à    There is no per borrower ceiling on jewel loan. However the limit is to be arrived based on the land holdings.

à    Jewel loan is available on all working days. 

Ø      Processing charge :

à    Upto Rs 25000 – Nil

à    More than Rs 25,000 – 0.5 % of loan amount.

Ø      Rate of Interest :

Upto 3 lakhs                      @ 7% (Under 2% interest subvention from Govt of India)

Rs.3.00 to Rs.5.00 lakhs -   @ BPLR + 0.5  - Presently 13.00 %

Rs.5.00 lakhs    -                 @ BPLR + 1.00 % - Presently 13.50%

Ø      Payment :

à Loan amount to be adjusted within 2 months from the date of harvest of the crop.