Gold and gold jewelry have always been considered as safe, long-term investment by Sri Lankans, and now purchasing gold has been made all the more easier with the Ranmini loan scheme by SDB bank.

Customers who wish to purchase gold jewelry, gold coins or gold biscuits (22 karat and above) from any reputed jeweler recognized by the bank, or purchase gold items with the objective of pawning for cash on credit, now have the opportunity to make a long-term financial commitment through Ranmini.

Eligibility:
  • Both pawning and purchasing options available for gold jewelry, gold coins or gold biscuits (22 karat and above)
  • Competitive interest rates:
    • Ranmini loan 20%
    • Ranmini pawning 18.5%
 
Ranmini Loan:
  • Up to 100% of the gold value assessed by SDB can be financed. Customers are given the option of contributing to the total invoiced amount
  • Maximum loan amount of Rs. 500,000/= and a minimum of Rs. 100,000/=
  • Customer should open an Investment Savings Account (ISA) with SDB with a minimum initial deposit of Rs. 500/=
  • Customer should agree to remit monthly salary / installment.
  • Repayment period up to 48 months
  • No guarantors required
  • Permanent service not considered
  • The item purchased will be lodged with bank until the full repayment of the loan
 
Ranmini Pawning:
  • 80% of the bank-assessed gold value will be financed, with the balance being contributed by the customer
  • Repayment can be done at any time
  • Gold items to be redeemed in one year
  • At the end of one year, the gold items can be re-pawned by fully settling the interest component
 
Process:
  • The particular customer will identify the jewelry item to be purchased and details of such jewelry item should be sent to the bank branch by way of a sales invoice from the jeweler.
  • Direct payment shall be made to the jeweler
  • Customer contribution should be deposited to the savings account at SDB prior to disbursement of the loan
  • When there are several items under one facility, individual items could be released pro-rata to the settlement of the facility
  • Jewelry should be purchased from a reputed jewelry shop in the respective area.
  • 1% concessionary rate from the prevailing interest rates for,
    • Uththamavi Savings account holders who have maintained a balance of Rs. 20,000/= or more for a minimum 6 months
    • SANASA Primary Society Members

 

The Rupee Quantum on Gold Sovereign (08g) for loan scheme as follows:

 

Ranmini Pawning
Karatage
24 Kt
Maximum Advance Rs. Per 08 g.
45,000.00
Maximum Advance Rs. Per 01 g (Unit Price)
5,625.00
Karatage
22 Kt
Maximum Advance Rs. Per 08 g.
42,000.00
Maximum Advance Rs. Per 01 g (Unit Price)
5,250.00
Ranmini Loan
Karatage
24 Kt
Maximum Advance Rs. Per 08 g.
56,000.00
Maximum Advance Rs. Per 01 g (Unit Price)
7,000.00
Karatage
22 Kt
Maximum Advance Rs. Per 08 g.
52,000.00
Maximum Advance Rs. Per 01 g (Unit Price)
6,500.00

 

Eligibility

Sri Lankan citizens above the age of 18 with a guaranteed permanent income including staff members of SDB

  • Ranmini Loan: Loans should mature before retirement
  • Ranmini Pawning: No age limit
Required Documentation
  • A duly filled loan application OR pawning ticket
  • Copy of the national identity card / passport / driver’s license for identification
  • Address verification document (i.e. copy of fixed utility bill, bank statement, etc) if current postal address differs from the national identity card or identification document
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