JS / Personal / Consumer Finance / JS GoldFinance

Features

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

Interest 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 customer’s financing 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 customer’s financing 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?

A. Any individual who is a resident Pakistani, CNIC holder aged between 18-65 years, and a legitimate owner of gold can apply for JS Gold Finance.

Q. What security / collateral needs to be provided for JS Gold Finance?

A. Any kind of gold jewelry / ornament of purity of 21 Karats & above can be provided as security to avail gold financing.

Q. What is the minimum income requirement for availing this facility?

A. There is no minimum income requirement; however, the limit will be assigned after assessing Gold Value and the repayment capacity of the borrower.

Q. What is the maximum loan amount?

A. You can avail up to Rs. 25 million (Twenty-Five Million Rupees) against your Gold.

Q. What is the financing amount / limit offered under JS Gold Finance?

A. Up to 70% of the Pledged Gold Value.

Q. What is Mark-up rate on JS Gold Finance?

A. JS GoldFinance pricing with a financing limit of PKR 299,999 or below:
Running Finance : Mark-up rate of 3M KIBOR + 12 % (exclusive of prompt payment bonus of 2%).
Term Loan A : Mark-up rate of 1-Year KIBOR + 12 % (exclusive of prompt payment bonus of 2%).
Term Loan – Facility B : Mark-up rate of 1-Year KIBOR + 11 % (exclusive of prompt payment bonus of 2%).

JS GoldFinance pricing with a financing limit PKR 300,000 – PKR 25 Million
Running Finance : Mark-up rate of 3M KIBOR + 9 % (exclusive of prompt payment bonus of 2%).
Term Loan A : Mark-up rate of 1-Year KIBOR + 9 % (exclusive of prompt payment bonus of 2%).
Term Loan – Facility B : Mark-up rate of 1-Year KIBOR + 8 % (exclusive of prompt payment bonus of 2%).

Q. What is the tenor of loan?

A. 1 year/12 months to 4 years/48 months.

Q. What is the processing fee for JS Gold Finance?

A. Min Rs. 3,000 to a maximum of Rs. 16,000

Q. Can the loan be paid before its tenor? And is there any early payment charges?

A. 2%-3% of the outstanding principal (Maximum Rs. 18,000)

Q. What is the frequency of repayment?

A. 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 once every year

Q. What is the procedure of release of security / collateral to the borrower after the loan is fully settled?

A. On repayment of all outstanding liabilities / Markup and any other charges, the ornaments held as security will be returned to the borrower.

Q. Who should I contact if I wish to avail this financing scheme?

A. Visit any authorized JS Bank branch and approach Relationship Manager – Gold Finance or Branch Manager/Branch Operations Manager. You may also Call at our Helpline Number (021)111-654-321 or WhatsApp on JS Bot (0348-7003000).
  • 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 once every year

Couldn’t find the page you were looking for?

Try searching