Eligibility of borrower:
- Having current / saving account holder of the Bank.
- Borrower must be a member / nominal member of the bank.
Purpose of Loan:
- Business purpose.
- Social work of the borrower.
- Educational expenses of his children.
- Personal use or any accidental requirement of money.
Quantum of Finance:
- Loan up to 70% of Market value price or per 10 gms of gold, loan up to Rs.16,000/-
- Maximum amount of loan to an individual is Rs. 2 Lakhs.
- 12 months for repayment of total loan in one lump sum and interest to be repaid monthly. or
- Maximum 12 months with monthly installments together with interest.
- Pledge of gold ornaments with the Bank.