GOLD LOAN

Purpose

To meet agricultural expences , regular expenses and other unforeseen commitments / contingencies and investment / domestic purposes

Eligibility

Credit-worthy SB Account holders with satisfactory dealings or new customers properly introduced and credit-worthy persons.

Loanees must be the Nominal Member of the Bank

Security

All individuals being true owner of the gold ornaments/jewellery 

Quantum

Minimum Rs.1000/- and Maximum Rs.8,00,000/- per party

Period

One Year.

Interest Rate

As fixed by Bank from time to time

Repayments

• The entire loan is to be repaid within 12 months from the date of sanction as bullet payment along with interest.
• Interest will be accrued to the account at monthly rests ,but will become due for repayment along with principal only at maturity

Documents Required

Application form in prescribed form available in bank branchs

Appraisal by the Jewel Appraiser ( Bank will Arrange)

Other Facilities

Gold Ornaments are covered under Insurance