Gold Loan

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
Tenure
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.