Nature of Facility

Demand Loan or Overdraft against pledge of Pledge of gold ornaments of 22 Carat purity or Gold Coins sold by our Bank.

Purpose

To meet urgent personal expenses like marriage / medical / educational needs etc

Security

Pledge of gold ornaments of 22 Carat purity or  Gold Coins sold by our Bank.

Quantum of loan

Minimum-  Rs 10000/  - Maximum Rs.20,00,000/-     

Maximum Limit of loan per gram

• Rs.1500/- per gram of gold ornaments or 80% of the current market price of 22 carat gold whichever is less.
•  In case of gold coins sold by our Bank Rs.1600/- per gram of gold coins, or 80% of the current market price of 24 carat gold whichever is less.
• Drawing power to be revised suitably on monthly basis based on the market value of gold.

Repayment

12 to 36 Months.

In the case of overdraft facility, the limit to be reviewed on annual basis

Processing Fees

0.5% of the loan amount plus applicable Appraiser Fee.

OD renewal charges 0.25% of limit

Rate of Interest

Overdraft        -  Base Rate + 2% p.a.

Demand Loan - Base Rate + 1% p.a.