Loan Against Gold

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 Lacs.

Repayment period:

  • 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.     

Security: 

  • Pledge of gold ornaments with the Bank.