Cent Agri Gold Loan scheme

Name of the Scheme	Cent Agri Gold Loan Scheme
Eligibility/ Target Group	Farmers, Tenant farmers, Oral lessees, sharecroppers etc and persons engaged in agriculture and allied activities (aged 18 years and above) as permitted by RBI to be classified under agriculture and having KYC complied account with our Bank.
Purpose	To meet production credit/working capital/investment agricultural credit needs etc.
Type of Facility	Demand Loan (Bullet Repayment), CC, CKCC (Interest Subvention/Non-Interest Subvention)
Security	Pledge of gold Jewellery, gold ornaments (Max weight 1000 gram) of 18/20/22 Karat purity or Gold Coins (Max.50 grams per person) sold by Banks. Gold Jewellery/Ornaments of 18/20 Karat will be proportionately valued at the Rate of 22 karat
Quantum of loan	Min. Rs 10,000/- Max. Rs.40 Lakh
Loan Eligibility Norms	Gold Loan Exposure >Rs.2.50 Lakh will be assessed based on repayment capacity of the customer
Margin	20% to 22% as per Product
Loan to Value	78% to 80% as per Product
Repayment	Demand Loan: Tenure of the loan is for 12 or 18 months with bullet repayment option. Simple interest will be charged to the account at half-yearly rests and will become due for payment along with principal at the end of tenure. However, repayment may be fixed as per income generation coinciding with harvesting and marketing of produce subject to a maximum period not exceeding 18 months. CKCC- Gold Loan (Interest Subvention): For short term production credit/working capital needs for agriculture and allied activities, an operative limit/ cash credit account to be sanctioned for a period of 5 years (Just like CKCC Scheme) subject to annual review. However, operative limit to be allowed for proposed crop of the season only CC/CKCC- Gold Loan (Non-Interest Subvention): Operative limit/ cash credit account for a period of 5 years (on the lines of CKCC scheme) subject to annual review
CIC Score	No Minimum CIC score requirement For borrower with Annual Income above Rs.10 Lakh, CIC twill be extracted for considering Deductions
Rate of interest	Please click here to know our latest interest rates
Processing fee	For Fresh /Renewal Gold Loan: Up to Rs.5 Lakh – NIL & > Rs.5 Lakh – Rs.5000/-+GST
prepayment/fore-closure charges	NIL
Appraisal fee	Loan Amount slab wise appraisal fee to be collected from borrowers: In case Appraiser is not Registered under GST: 0.20% of loan amount, min Rs.100/- +GST, max: Rs.3000/- +GST (1^st time appraisal) 0.10% of Loan amount, min Rs. 50/-+GST, max Rs. 1500/-+GST (renewals) In case Appraiser is Registered under GST/Corporate Appraiser: 0.22% of loan amount, min Rs. 110/-+GST, max Rs. 3300/+GST (1^st time appraisal) 0.11% of loan amount, min Rs. 55/-+GST, max. Rs. 1650/-+GST (renewals)
Release of pledged collateral	Release or return the pledged eligible collateral held as security to the borrower(s)/ legal heir(s) within maximum period of seven working days upon full repayment or settlement of the loan.
Safe Keeping Charges	Loan Amount Slab Wise Safe Keeping charges will be levied after 30 days of expiry of tenure of the Gold Loan or after 30 days of closure of loan, if gold/ornaments are not redeemed.