Loan to any individual for any Genuine justifiable reason 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
Bullet Repayment option available for loans up to Rs.2.00 Lakhs
Maximum Loan Amount Limit : Rs. 25.00 Lakh
Eligibility : Any Individual
Security :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. Guarantors :
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 Lakh - A class membership of Rs. 1000/- per borrower
II. For Loans above Rs.1.00 Lakh - 1% of the Loan Amount.
Processing fee :
0.70% of Loan amount (Minimum Rs.250.00)