Shri Narayani Nidhi Ltd provides Jewel loans to its members under the following terms and conditions:

1.Only against Gold ornaments

2.Broken chains, baby ornaments, ornaments with gross weight less than 3 gms, heavily stoned ornaments are not considered for loans

3.Standard Deduction of 0.5 gm per 10 gm is applied to arrive at the net weight.

4.Company staff are trained in appraising the ornaments as to its fineness and in exceptional cases, external appraiser services are utilized.

5.Tenor of the loan is fixed at 1 year.

6.LTV ( Rate per gram) is fixed based on the market rate and normally 75% to 80% of the market rate is applied. Purity wise. LTV is modified then and there depending on the market trend.

7.Interest rate is fixed at 14% to 15% ( base rate) and the members are encouraged to service the interest periodically to retain the base rate.

8.Mode of disbursement: Loan amount disbursement through banking channel via RTGS, NEFT.

9.Purpose of loan: Productive/ to meet domestic expenses

10.Maximum Loan amount: Rs. 1500000 per member in aggregate

11.Maximum tenor allowed to redeem- 15 months and if not , ornaments are put into public auction duly observing the standard practices.

12.Authorization facility is provided by which the member can authorize his close relative to redeem the jewels in the event of unfortunate demise of the member.