Jewelry Loan

JEWELRY LOAN

is a new loan product of Katipunan Banking Corporation “A Rural Bank” offered to customers who are in need of financial assistance by pawning their personal properties particularly GOLD jewelries such as necklace, bracelet, earring, ring, and pendant among others. This product offers a quick, secure, confidential and easy way to obtain cash that the clients require or during the time of their life’s unexpected emergencies. It allows them to immediately obtain cash using their gold jewelries as collateral. The loan shall be based solely on the APPRAISAL VALUE of the collateral.

TARGET MARKET

Open to all individuals who is in legal age 18 years and above.

INTEREST RATE
                   1.25 % per month                                                       2%– upfront   lump sum upon maturity
CLIENT ELIGIBILITY CRITERIA
  • Open to men and women who needs immediate cash by pawning their gold jewelry as collateral for a loan.
  • Must be of legal age.
  • No existing Delinquent/ Past Due accounts with the bank, unless proceeds will be used to update/redeem his/her past due account.
  • Willing to adopt future changes in policies and procedures even without prior notice.

REQUIREMENTS

  • One (1) Valid ID
  • Two (2) pcs 2×2 picture
  • Two (2) pcs 1×1- for opening of savings account (if applicable only)
  • Jewelry item(s)
  • Proof of BillingProof Income

ADDITIONAL REQUIREMENTS;

  • 2 copies of scanned picture of the client(s) jewelry items (applicable only if the items is more than 2 pcs)
  • -1 copy shall be given to client
  • -1 copy shall be filed on the credit folder