Richmax Customer App

Gold Loan repayment range: Keeping a minimum balance of Rs.100/-in the account, customer can make repayments without visiting the branch.

Loan Tenure:180 - 365 days

Annual Interest Rates: 12% p.a. to 28% p.a.

Processing Fee (Min to Max): 25-100
Foreclosure Fee: Nil
Representative Example for Gold Loan repayment from Home/office: A customer from Mumbai can avail a super easy gold loan of Rs.1,00,000/-with an interest rate of 18 % per annum for a tenure of 180 days by visiting directly his/her home branch. If the customer pays only the interest every 30 days, then overall calculated interest payable would be ₹1500/month. A processing fee charged could be in the range of 25 to 100 rupees depending on the quantum of loan amount and the amount of this loan would be ₹ 50. If the customer desires to pay only at the time of maturity of loan, then the interest rate would be jumped to higher slab, which may be 28% and he/she has to pay Rs.1,28,050/-(Principal+Interest+Processing fee). The customers get the convenience to pay the principal balance anytime within 180 days of tenure subject to keeping a minimum balance of Rs.100/- in his/her account. Customers can pay the full interest along with principal towards their loan account without visiting the branch in person provided that maintaining the minimum amount criteria.