Gold Loan

Taqwa has prepared many schemes for benefit of the general public, Gold Finance is also one of such schemes. This scheme is promoted to facilitate a person to avail the required amount needed in case of any emergency. This is a Shari'a compliant soluon, an alternate to the Gold Mortgage Loan in the interest-based banking system. Under this scheme, the Safekeeping cerficate issued by Taqwa is deposited in any Taqwa branch and 60% to 70% amount is availed against the safekeeping cerficate. To repay this amount a full term of one year is given to the cerficate holder. And aer paying equal monthly installment (EMI) parally, if the customer once again is in some urgent financial need, he may once again avail the financial assistance from the re- paid installments under the same agreement. Under this scheme the customer is also required to submit a postdated cheque as security for the amount availed from Taqwa.

Safekeeping

• Minimum gold deposit value is Rs 50,000/-.
• Safekeeping certificate is issued.
• For a period of 6-12 months.
• Rent payable is 0.7% per month.
• Processing & Documentation fee is Rs 1000/- or max 1% of the gold value.
• Gold appraisal fee 0.5% on gold value
• Shari'a term is ljara.

MORTGAGE

• Financing term is 1 year.
• Deposit the safekeeping certificate.
• Obtain 70% of the certificate value in cash.
• No Processing & Documentation fee.
• Profit rate is 0%.
• Shari'a term is Rahan.

MICRO GOLD (MORTGAGE) FINANCE

• The ‘Micro Gold (Mortgage) Finance’ is available on Shari'a term "Ijara" on safekeeping" at the rental income 0.4% or 0% per month to small borrowers requiring Rs 5,000/- to maximum Rs 10,000/- for one year.