Gold Loan

  • Eligibility
    • Applicant who is major, must be Resident of our service area village/town, preferably existing customer or reputed and known to the Bank fulfilling KYC Norms having saving bank A/c with the Bank.
  • Rate of Intrest
  • Repayment Period
    • For CC/OD:- within 12 months. Limit Renewable every year.
    • For DL:- Repayment should be made within 3 years in monthly/Quarterly/Half Yearly/Yearly installments coinciding with the harvesting & Marketing seasonal generation of income from the business Activity. Interest to be recovered as & When applied.
  • Proposal Processing Charge
    • 1.25% of sanctioned limit is to be recovered on the date of disbursement & there after annually on same date.
  • Margin
    • 20% of advance value.
  • Max & Min Loan:
    • Minimum: Rs.5000/-
    • Maximum: As per purity & weight of Gold ornaments.
    • No Loan should be given against below 18 carat gold ornaments
  • Moratorium
    • Not Applicable
  • Security
    • Gold Ornaments will remain as pledged to the bank.