Loan to any type of customer for personal/business purpose against gold ornaments/ jewellery or specially minted gold coins upto 50 gms per customer.
"Conditions Apply. Loan at sole discretion of the Bank." SMS 'Loan' to 70659 66665
Maximum 12 Months
25% Where interest is serviced at monthly rest 35% Where interest will be paid along with principal at the time of maturity of loan (i.e. Only in case of bullet repayment option where customer chooses to repay interest at the time of maturity.)
Maximum Loan Amount Limit :
Rs. 25.00 lacs
Gold ornaments / Jewellery of not less than 22 carats (preferably Hallmark) certified by approved gold valuer and valuation should be accordingly indicated by the valuer.
Specially minted gold coins upto 50 gms per customer with "99.99% purity" certification - To obtain proper receipt of purchase and ownership.
For Loan above Rs.10 lacs, personal guarantee of spouse or other family member/s.
Subscription to Bank's Share - Membership:
I. For Loans upto Rs.1.00 lac - A class membership of Rs. 1000/- per borrower
II. For Loans above Rs.1.00 lac - 2.50 % of the Loan Amount.
A class membership of Rs. 1000/-.
(If Loan amount is greater than Rs. 10.00lacs)
Processing fee :
0.70% ( Min Rs 250)
1. Loan Application Form in prescribed format.
2. One passport size photograph (KYC Documents).
3. Address Proof
4. Identity Proof
5. Salary / Income details
6. Any other documents required by the Bank.