Tamilnad Mercantile Bank TMB Jewel Loan

Loan Against Gold Jewellery from Tamilnad Mercantile Bank

Unleash the potential of your gold assets to pay off your debts

Tamilnad Mercantile Bank TMB Jewel Loan

This scheme helps borrowers access needed funds by pledging their gold jewellery. This loan can be used to meet any financial needs such as expenses for a wedding, overseas travel, higher education, etc. as well as to consolidate high-interest debts. The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 10 lakh.

Features of TMB Gold Loan

Why this Loan?

  • The TMB Jewel Loan is meant for borrowers who want to get funds by pledging gold jewellery/ornaments to meet their financial needs
  • This loan scheme can also be availed by borrowers as a consolidation loan to pay off their high-interest credit card debts and loans, thereby consolidating their debts

Loan Amount

  • The minimum loan amount sanctioned under this loan is Rs. 3,000
  • The maximum loan amount sanctioned by the bank under this loan scheme is 75% of the value of gold jewellery or Rs. 10 lakh, whichever is lower


  • The interest rate applicable to this loan is defined as the sum of two factors: one-year Marginal Cost of Funds based Lending Rate (MCLR) and a Spread factor of 1.55%. As of October 2020, 1-year MCLR of TMB is 8.65% bringing the effective interest rate at 10.10%


  • This loan is repayable within 12 months


  • Borrowers should be above 18 years of age and have a steady source of income
  • Borrowers must be the true owners of the gold ornaments/jewellery

Margin Money (Borrowers Contribution to Total Cost)

  • The bank charges 25% of the value at the time of sanction

Security Needed

  • The bank accepts pledging of 22-carat gold ornaments duly verified for quality and quantity to secure this loan

Processing Charges

  • The bank charges 1.00% of the loan amount for processing this loan

Documents Needed

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Income/Banking Proof for Self-employed Professionals/Insurance Agents: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.

Reference Facts

  • Tamilnad Mercantile Bank Website: www.tmb.in
  • Headquarters: Tuticorin, Tamil Nadu
  • Call Centre Number: +91 461 2321382, +91 461 2321929, +91 461 2321932