|Loan Amount||1) Upto ` 5,00,000/-
2) Above ` 5,00,000/-
|Interest Rate||12% p.a.|
|Age||55 years Maximum|
|Margin||40% of gold valuation|
|Security||Genuine Gold Ornaments|
i) Loan upto Rs. 1.00 lakh
ii) Loan above Rs. 1.00 lakh
|1) 12 to 24 months (EMI) & branch should insist to borrower for repayment loan in monthly installment.
2) 12 months overdraft in rare case ( Bullet Payment)
1) 12 to 36 months ( EMI)
|Membership||Regular / Nominal membership|
|Processing chg.||As per rules ( 0.25% of sanction amount & minimum Rs.250/-)|
|Documents required||Consent letter of women is required who belongs gold ornaments (STREE DHAN) and are pledged with bank for loan.|
|Others||As per banks credit policy all other rules & regulations applicable.|
Rs. 50/- should be debited as insurance to gold loan accounts upto Rs. 1.00 lakh & Rs. 100/- to above Rs. 1.00 lakh.