Agri. Gold Loan

  • Purpose
    • To meet the short term production / investment credit needs of a farmer.
    • All other farming activities which are permitted to be classified under agriculture as per RBI/GoI/NABARD guidelines and not covered under the Agri interest subvention scheme.
  • Eligibility
    • Minimum age criteria: 21 Years
    • Farmer (including tenant farmer, oral lesses & share croppers) having minimum age 21 years.
    • Any person engaged in agriculture or allied activities as well as persons engaged in activities permitted by RBI to be classified under agriculture segment.
    • Loan is to be given against gold ornament of 18 carat & above.
  • Loan Facility
    • Demand Loan / Cash Credit
  • Maximum Loan
    • Rs. 10.00 Lakh (For Bullet repayment type loan Rs. 2.00 Lakh)
  • Rate of Intrest
  • Repayment Period
    • For Cash Credit:- within 12 months.
    • For Demand Loan: within 36 months.
    • For Bullet Repayment type loan: within 12 months.
  • Proposal Processing Charge
    • For BIS Hallmarked Jewellery/ Ornaments and specially minted Gold Coins sold by Banks: 0.50% of sanctioned limit.
    • For Non Hallmarked Jewellery / Ornaments: Loan Up to Rs.25,000: Rs.250/- Fixed per application. Above Rs.25,000/-: 0.50% of loan amount Min. Rs. 500/-
  • Margin
    • 25%
    • 35% for bullet repayment type loan.
  • Moratorium
    • Not Applicable
  • Security
    • Gold Ornaments will remain as pledged to the bank.