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Jewel loan

Loan schemes

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Menu: Jewel Loan → Loan Lifecycle → Jewel Loan Scheme

A loan scheme holds the rules for your jewel loans: how much you lend, for how long, and at what interest. Set it up once and pick it for every new loan.

Add a scheme

Click Add to open Add Jewel Loan Scheme.

Add Jewel Loan Scheme

Basic information

Scheme Code *, Scheme Name *, Status * (Active) and Description.

Loan amount and tenure

FieldShown in the form
Min Loan Amount *1000
Max Loan Amount *5000000
Min Tenure (Days) *30
Max Tenure (Days) *365
Default Tenure (Days) *365

Interest rate

FieldShown in the form
Min Interest Rate (%) *12
Max Interest Rate (%) *18
Default Interest Rate (%) *14
Interest Frequency *Monthly
Calculation Method *Simple Interest

Processing and charges

FieldShown in the form
LTV Percentage (%) *75 - you lend up to 75% of the jewel’s value
Fee TypePercentage
Fee Value *1
Min / Max Processing Fee0 / 50000
Documentation Charges / Appraisal Charges0
Insurance TypeNone

Example: Kumar’s jewels are valued at ₹60,000. At 75% LTV he can get up to ₹45,000. A 1% processing fee on ₹45,000 is ₹450.

Loan options

Tick the options this scheme allows, such as Partial Release, Top-Up Loan, Repledge, Bullet Repayment and First Month Interest.

Interest rules

FieldShown in the form
FMI Calculation Mode *Mode 1: Calendar Month
Partial Month HandlingBucket Based
Grace Days (1-X)5
Half Month Upto (Days)15 - a part month up to 15 days is counted as half a month

Configuration

Disbursement Rounding, Interest Rounding, Rounding Nearest Value * (1), Application Series * (Default Loan Application), Disbursement Series * (Jewel Loan Disbursement Series), Packet Number Manually and Each Item Individual Packet.

Interest rate slabs

Click Add Slab to add rate slabs.

Click Save Product to save the scheme.