Features
Financing Amount
Individual:
Min: PKR 50,000
Max: PKR 2.5 Million
SE (Small Enterprises):
Min: PKR 50,000
Max: PKR 25 Million
Processing Fee & Charges - As per Bank’s updated SOC
Security:
Pledge of gold/ gold ornaments
Financing Tenure:
Term Finance:
Individual: 12 Months-48 Months
SE (Small Enterprises): 12 Months-60 Months
Running Finance: 1-3 years
For our customers’ convenience, JS GoldFinance is offered as a Running finance facility as well as Term finance for a tenure of 1 year/12 months to 4 years/48 months.
Running Finance
Markup is applicable only on the availed loan amount (up to x percent of gold value) the facility is offered for 3 years (without annual renewal) and may be renewed upon customer request after 3 years.
Term Finance
Facility 1 – Based on Equal Monthly Installment:
In case of Term Loan A,
The disbursement is in the form of a single draw into the personal current account and the repayments are made in form of equal monthly installments (EMI) including both principal and interest portions.
Facility 2 – Based on Quarterly Mark-up Payment only, with principal payment at maturity:
In case of Term Loan B (Bullet Payments ),
The disbursement is in form of a single draw into the personal current account. The facility can be renewed at the client’s request. Quarterly markup payments are made. Principal is paid at maturity.
Term Loan Plus:
Facility for existing JS GoldFinance Term Loan clients.
- Term Loan Plus facility is offered to existing JS GoldFinance term loan as a medium to enhance the current financing availed.
- Facility 1 customers with a minimum of a 6-month satisfactory relationship in Facility 1 of JS GoldFinance.
- Value of the gold will be assessed based on the current market price of gold.
- Pakistani national
- Valid CNIC/SNIC or NICOP/SNICOP
- Age:
- Minimum 18 years
- Maximum 65 years
- JS Bank Account.
- Satisfactory credit history of existing bank borrowings
- Financial ability to afford and repay finance
Q. What is eligibility criteria?
Q. What security / collateral needs to be provided for JS Gold Finance?
Q. What is the minimum income requirement for availing this facility?
Q. What is the maximum loan amount?
Q. What is the financing amount / limit offered under JS Gold Finance?
Q. What is Mark-up rate on JS Gold Finance?
- For financing limits up to PKR 599,999
- Running Finance: 3-Month KIBOR + 14%
- Term Loan-A: 1-Year KIBOR + 14%
- Term Loan-B: 1-Year KIBOR + 13%
- For financing limits from PKR 600,000 to 25 Million
- Running Finance: 3-Month KIBOR + 11%
- Term Loan-A: 1-Year KIBOR + 11%
- Term Loan-B: 1-Year KIBOR + 10%
- JS Staff: 3-Month KIBOR + 10%
Q. What is the tenor of loan?
Individual: Min. 12 Months/1 Year – Max. 48 Months/4 Years
SE (Small Enterprises): Min. 12 Months/1 Year – Max. 60 Months/5 Years
Running Finance: Min. 1 Year – Max. 3 Years
Q. What is the processing fee for JS Gold Finance?
- Up to Rs. 250,000: Rs. 5,000 (Rs. 500 upfront)
- Rs. 250,000 to Rs. 499,999: Rs. 8,000 (Rs. 500 upfront)
- Rs. 500,000 to Rs. 999,999: Rs. 15,500 (Rs. 1,000 upfront)
- Rs. 1,000,000 to Rs. 4,999,999: Rs. 20,000 (Rs. 3,000 upfront)
- Rs. 5,000,000 to Rs. 9,999,999: Rs. 22,000 (Rs. 5,000 upfront)
- Rs. 10,000,000 and above: Rs. 24,000 (Rs. 7,000 upfront)
Q. Can the loan be paid before its tenor? And is there any early payment charges?
- Running Finance: 4.3% of the outstanding principal
- Term Loan-A & B: Between 2.0% and 2.8% of the outstanding principal, depending on loan type
Q. What is the frequency of repayment?
Term Loan – B: Quarterly Mark up and Principal at the time of Loan maturity
Running Finance: Quarterly Mark up and Principal fully settle on loan maturity
Q. What is the procedure of release of security / collateral to the borrower after the loan is fully settled?
Q. Who should I contact if I wish to avail this financing scheme?
Q. What if I don’t pay my instalment on time?
- Term Loan – A: Monthly installment plan
- Term Loan – B: Quarterly Mark up and Principal at the time of Loan maturity
- Running Finance: Quarterly Mark up and Principal fully settle on loan maturity