Gold Loans are given for both income generation and personal requirements and shall not be used for any speculative, illegal, or unlawful purposes that violate the laws of the country.

Any individuals in the age group of 21 to 75 years can avail gold loan provided he or she is the rightful owner of the ornaments they wish to pledge. The gold ornaments accepted as collateral must have a purity ranging from 18 to 22 carats. Ornaments below 18 carats will not be accepted. In the event that the purity of the ornaments is found to be less than 22 carats (but not below 18 carats), the lender shall determine the value of the gold by converting it into the proportionate value of 22-carat gold.

Borrower will nominate one of his/her family members as Nominee. In case of any unfortunate event causing death of the applicant, Nominee can repay the loans and get the Gold Ornaments released from the pledge.

Each pledged ornament is placed in the weighing machine to determine the gross weight of the ornament. The weight of non-gold objects in the ornament such as gems, stones, diamonds, or any other non-gold material is deducted from the gross weight to determine the net weight of the ornament.

For the purpose of valuation of pledged gold, the lower of (a) the average closing price for gold or silver, as the case may be, of that specific purity over the preceding 30 days, or (b) the closing price for gold or silver, as the case may be, of that specific purity on the preceding day, as published either by the India Bullion and Jewelers Association Ltd. (IBJA) or by a commodity exchange regulated by the Securities and Exchange Board of India (SEBI) shall be used. If price information for the specific purity is not directly available, Keertana shall use the published price available for the nearest available purity and proportionately adjust the weight of the collateral based on its actual purity to arrive at valuation.

Customers are allowed to pledge only the Gold Ornaments belong to them. Ornaments stolen, borrowed are not allowed to pledge. Customer shall sign a declaration to this effect. Further ownership determination is done by collecting info related to Ornaments. Data points collected are, how the ornaments are acquired, which shop and location the Ornaments were purchased from etc., Due diligence will go up with the loan size increasing. In few cases, the employees may visit the customer’s house for further verification.

Tenure ranges from 4 to 10 months. Quantum ranges from Rs. 1,000 to Rs. 50 lakhs. However, this is subject to change from time to time.

The interest rate may vary from 8% p.a. to 26% p.a. depending on the product scheme and a processing fee m ight be applicable. Mode of calculation and other factors considered are as follows:-

• Interest rate will be quoted on annualized basis only.
• Interest amount will be calculated on the daily outstanding balance in the loan account at the contracted rate.

In addition to interest, the Company may levy the following charges. The rate at which such charges are levied shall be decided by the ALCO –Committee empowered by the Board for fixing interest rates and other charges including but not limited to Processing fee, Insurance, Penal Chrages, Auction Charges, Auction Notice Charges and Stamp Duty will be collected in states where it is mandated as per the Stamp Act/State government directives. Any other charges as decided by the ALCO- Committee empowered by the Board, which will be intimated to the customer as part of their loan documentation.

Ratio of the loan amount and any other dues, as applicable, from time to time, in accordance with RBI guidelines to the appraised value of the collateral, typically denoted as a percentage.

The Company ensures the release of all securities held against a loan upon repayment of all dues or realization of the outstanding amount, subject to any legitimate right or lien for any other claim the lender may have against the borrower. If the company intends to exercise its right of set-off, the borrower will be provided with written notice containing full particulars about the remaining claims and the conditions under which the company is entitled to retain the securities until the relevant claim is settled or paid.

Our company is committed to maintaining transparency and fairness in its dealings with borrowers. In line with this commitment, we ensure that any changes in terms and conditions, including disbursement schedules, interest rates, service charges, and prepayment charges, are communicated to borrowers in a language they understand. Changes in interest rates and charges are implemented prospectively, meaning they will apply only to future transactions and will not affect existing loan terms. To enforce this practice, a clause regarding communication of changes in terms and conditions is included in all loan agreements, reaffirming our company's commitment to transparent and fair practices.

We cordially invite you to visit our nearest branch for comprehensive information regarding the array of products we offer. You may find the nearest branch at https://keertanafin.in/contactus