Bullion
Gold Metal Loan (GML) is a mechanism under which a jewellery manufacturer borrows gold metal instead of rupees and settles the GML with the sale proceeds obtained. GML can be availed for 180 days in case of domestic jewellery manufacturers and for 270 days in case of exports.
Gems and Jewellery is one of the key industries in Indian market and ICICI Bank is one of the oldest key player nominated by the RBI for importing gold/ silver since 2002. ICICI Bank has extensive tie up with reputed bullion suppliers and logistics providers across the globe and is committed to the best pricing and quickest processing time.
GML is offered under following schemes
- Fixed-tenure: Loans with a fixed interest rate and a pre-determined fixed repayment date
- Flexi tenure: Loans on a floating interest rate basis and the prepayment is permitted before the maturity of loan
Features and Benefits
- Fulfils working capital requirement of jewellery manufacturers
- Types of facilities available: Fixed term Gold Metal Loans and Gold Overdrafts
- Upfront delivery of gold with flexibility of fixing the gold price within 180/270 days
- Repayment of Gold Metal Loan in equivalent INR
- Attractive interest rate
ICICI Bank offers gold in standard bar forms on outright sale basis. Bank imports physical bullion on consignment basis from London Bullion Market Association (LBMA) accredited international bullion suppliers and sells it to customers in India on outright basis. Jewellery manufacturers and traders can avail gold in standard bar form on upfront payment basis.
Key features
- Physical gold bars in standard form (LBMA good delivery)
- Delivery of gold on upfront payment basis
- Competitive pricing
- Delivery at vault or at doorstep of the customer’s premises
- Easy and immediate availability of gold at major centres
iBullion is a digital platform for customers, designated to transform the Bullion business.
- iBullion enables customer DIY journey for our clients, for both gold and silver.
- Customers can raise gold/silver metal loan and place gold delivery requests online.
- Customers can also track the status of requests, outstanding amount, order history, generate reports, etc., through iBullion.