Indian Bank Gold Schemes

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Indian Bank offers a scheme for investment in gold and a scheme for loan against gold. Customers who are interested in buying gold can open a recurring deposit to create a fund in order to afford the gold. The maturity value can be used to buy gold from Indian Bank at discounted rates. Customers who need finance can pledge their gold as security to avail of the Jewel Loan Scheme.

Jewel Loan Scheme (Non-Priority)

Indian Bank offers the Jewel Loan Scheme to the non-priority sector to help customers meet short term credit requirements. Customers can avail of finance from Indian Bank by offering gold jewellery and ornaments as security.


  • All individuals are eligible for the loan.
  • Customers can pledge their gold jewellery and ornaments to avail of the loan.
  • The quantum of the loan is determined on the basis of the net weight of the gold jewellery. The rate per gram is fixed periodically or 70% of the market value, whichever is lower.
  • A minimum processing fee is charged at the rate of 0.56% of the amount sanctioned.
  • The interest rate for the Jewel Loans contracted for the quarter that ended on March 2016 was between 10.20% to 13.20% p.a.

IB Swarna Nidhi RD/IB Swarna Nidhi VRD

Customers can open a recurring deposit to invest in gold. The proceeds from the deposit can be used to purchase gold coins from Indian Bank equivalent to the maturity value. Deposit holders are entitled discounts and incentives under this scheme. Customers with a maturity value of Rs.12,000 and above are entitled to accident insurance issued by IB Chatra Policy of the Bank.


  • Customers can open an account with a minimum of Rs.500.
  • Deposits can be made in multiples of Rs.100 upto a maximum of Rs.10 lakhs per month.
  • The minimum deposit period is 6 months. The maximum deposit period is 24 months.
  • Interest is applied on a quarterly basis.
  • Deposit holders are entitled to a discount on the gold coins to be purchased from the deposit money. Discount offered is Rs.25 off on each gram.
  • For customers with a maturity value of Rs.12,000 or more, an additional incentive is offered. Customers get free personal accidental insurance worth Rs.1 lakh.

Indian Bank was established in 1907 and has served the nation since then and has expanded internationally. The bank has established a trusting relationship with the nation and its customers.

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Also Know About the other Gold Schemes by Banks

Andhra Bank Gold Schemes Axis Bank Gold Schemes HDFC Gold Schemes
ICICI Gold Schemes IDBI Bank Gold Schemes PNB Gold Schemes
SBI Gold Schemes

Also Know About Gold Schemes by Jewellers

Tanishq Gold Schemes Kalyan Jewellers Gold Schemes Malabar Gold Schemes
GRT Gold Schemes Lalithaa Jewellery Gold Schemes Bhima Jewellery Gold Schemes
PNG Jewellers Gold Schemes Prince Jewellers Gold Scheme Nathella Gold Schemes
Saravana Stores Gold Schemes Jeyachandran Gold Schemes

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