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General Terms & Conditions

  1. The loan can be closed at any time, but interest will be charged for a minimum period of 7 days if the actual loan tenure is 7 days or less or an amount of Rs. 100 + GST whichever is higher regardless of tenure.
  2. The loan will carry interest at the rate specified in the Demand Promissory Note (DPN) executed by the borrower, and incidental charges if any shall be charged as decided by the Company from time to time.
  3. In case of default, the Company is within its right to retain the security offered for this loan as security against any other liability due to the Company by the borrower whether such liability has been demanded or not.
  4. The company has the right to assign or transfer the rights under this agreement or other documents executed by the borrower in favour of the Company and to obtain necessary advances from any bank / financial institution or others at any time.
  5. If the Company decides to stop any existing loan scheme, then no new loan will be available under such schemes. If the borrower wishes to continue, then he/she will have to avail of a loan under a scheme prevailing at that time.
  6. Application for transferring Loan accounts from one branch to another branch is not permitted. However, the Company reserves the right to transfer loan accounts and shift pledged ornaments from one Branch to another if it feels necessary.
  7. Company officers and auditors have the right to verify the quantity and purity of the pledged ornaments at any time.
  8. Customers are liable to pay stamp duty, taxes, penalties, etc. imposed by the Govt. from time to time, on their account(s).
  9. Availing/repayment/interest payment of loan etc. should be done during the office time of working days only. If the due date of any transactions/repayment falls on a holiday, the previous working day will be treated as the due date of such transactions.
  10. The loan amount with interest should be remitted by the borrower or by his authorized representative. The pledged ornaments will be released only upon the entire principal amount with interest being repaid to the Company either by the borrower or through his/her authorized representative. Before releasing the ornaments ‘Customer Receipt’ should be returned. In the event of the death of the borrower with no valid nominee, ornaments will be returned to the legal heirs only.
  11. Terms and conditions governing the grant of this loan are subject to the ‘Fair Practice Code’ published on the Company’s Website and displayed on the Branch notice board.
  12. The borrower consents to receiving SMS/email messages regarding loan offers or other services offered by the Company from time to time.
  13. The borrower agrees to the Company passing on information about his/her loan accounts to the RBI, Credit Information Bureau and other credit information agencies, Govt. of India, State governments or authorized Govt. Departments/agencies for their use.
  14. Borrower agrees and undertakes that the loan amount will not be utilized for illegal purposes.
  15. In case of part payment of the loan, the amount remitted by the borrower will be first appropriated towards interest and charges on the loan outstanding, and the remaining amount, if any, will be adjusted towards the principal amount.
  16. The address for all communication shall be the one furnished in the application form, Subsequent change of address should be informed in writing and under acknowledgment from the Company.
  17. The jewellery pledged is the absolute property of the borrower, no other person is having any right, interest, or claim over the same and the borrower has the absolute right to pledge them. In the event of any defect in the title to the jewellery, the borrower undertakes to indemnify the Company of all harms, costs, and consequences.
  18. If full repayment is not made within the loan period mentioned in the DP Note or within such period as demanded by the Company, the Company shall have the right to redeem the loan by disposal of the pledged ornaments at the risk of the borrower. Such redemption will be done through public auction by the Company appointed auctioneer at any time but only after 2 weeks from the date of notice of sale to the borrower at the address given in the application for a loan and appropriate the amount so received towards the loan amount, interest and other auction charges as mentioned below. The net proceeds of such sale shall be used to settle amounts due to the Company in respect of the loan. If money falls short on such a sale, the balance amount will be recovered from the borrowers. If there is any surplus on such sale, the Company shall have the right to and shall appropriate such surplus towards any other liability of the borrower on any account whatsoever to the Company at any of its offices. If there are no dues, the surplus will be returned to the borrower.
  19. Notwithstanding anything contained in para 18 above regarding the tenor of the loan, the Company reserves the right to sell the ornaments by way of public auction at any point in time, even before the expiry of the loan period. This is if the Company is convinced that the market price / maximum realizable amount by the sale of pledged items has gone below or equal to the total receivable amount from the borrower by way of principal, interest, and other charges. A registered notice of intention will be sent to the borrower directing him/her to repay the dues within 10 days, thereof.
  20. The borrower shall bear, pay, and reimburse all charges relating to administration, interest tax, service tax duties (including stamp duty), sales tax, GST, and other taxes and all other costs and expenses whatsoever in connection with (a) application for grant and repayment of the loan, (b) recovery and realization of the loan together with interest, (c) enforcement of security, (d) clearance of arrears of all taxes and any other charges and levies of the Government in respect of the security and ensuring the security.
  21. In the event of loss of pledged ornaments, the liability of the Company shall be limited to the replacement value of the lost ornaments equal to the net weight disclosed in the pawn ticket or reimbursement by way of cash equivalent to the extent of the value of the net weight of the pledged ornaments, at the then prevailing price. The settlement will be done only after the entire amount due to the Company by way of loan, interest, and charges, if any, are received from the borrower.
  22. The Company has sanctioned the loan by accepting the purity declared by the borrower and standard appraisal methods. If, in the future, it is found out that the gold ornaments pledged are of inferior quality or spurious in nature, then the Company will have the right to proceed against the borrower legally by filing a civil/criminal case to recover the loan amount, interest, and any other charges. The borrower will be liable for the costs and consequences of such actions.

23.Terms & and conditions as well as the repayment chart for gold loans, under the EMI scheme, are separately provided.

24.If the Customer Receipt is lost/misplaced, the customer can get the release of the pledged gold ornaments by executing an undertaking and payment of processing fee as follows:-Preparation of declaration in lieu of DPN-Fee Rs 100/- Compulsorily customer should be present with Id proof 

25.If the borrower has any grievance about any aspects concerning the loan availed against the security of the ornaments, he/she shall write to the following address: The Customer Grievance Redressal Nodal Officer, Oleevia Grameen Credits , a unit of Shree Ganesh Stock Pvt Ltd, First Floor, Majestic Square, Paravattani, Kalathodu, Thrissur, Kerala-680655 or E -mail to: [email protected]

General Terms & Conditions

Transaction charges to be borne by the customer (total amount of Transaction charges +
Once the payment has been made no cancellation will be entertained for any reason
During Online Payment, if the amount is debited from the customer's bank account and
transaction details are not generated online, please allow us 24 hours’ time to generate the
transaction details
If the customer's account has been debited twice for one transaction amount will be
refunded via the same source within 15 to 20 working days
It will be the responsibility of the customer to ensure that no double payment is made from
his end for the same account
The transaction will affected on a real-time basis in the loan account till the successful
transition is made before 5.30 PM of the day (T+0) and the transaction made at 5.30 PM will
be reflected on the next working day (T+1 working day).
The customer can view and print the E-receipt after payment confirmation from the
gateway. The minimum age limit for availing of the services is 18 age

Governing law and jurisdiction

Any claim dispute or controversy with respect to in connection with or arising out of this agreement shall be subject to an arbitration exclusively within the jurisdiction of Thrissur Kerala state. The arbitration proceeding shall be conducted in accordance with the Indian Arbitration and Conciliation Act 1996.

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