Branch +

Gold Loan

  • Home
  • Pages
  • Gold Loan
image

Gold loans are secured loans where gold jewellery is used as collateral.

Tenure of 1 year

It has tenure on One Year.

Minimal documentation

No much more documentations and procedures are required to be completed.

ROI 12%

It has ROI of 12%.

Aspects

  • Smooth and hassle-free loan processing for customer convenience.
  • Quick loan approval and fast disbursal process.
  • Simple application process with minimal documentation requirements.
  • No guarantor is required to avail the loan facility.
  • Loans are provided against the security of gold ornaments.
  • Loan amount available up to 85% of the gold valuation.
  • Maximum repayment tenure available is up to 1 year.
  • Pre-payment of loan attracts a penalty charge of 2%.

ROI & Handling Charges

  • Attractive loan facility available at an interest rate of 12%.
  • A nominal processing fee of 0% is applicable on the loan amount.
  • No additional handling charges are applied for loan processing.

Eligibility

    • The applicant must be the genuine owner of the gold ornaments or jewellery pledged with the bank.
    • Applicants between 18 and 70 years of age are eligible for the loan facility.
    • Gold ornaments with purity ranging from 18 to 24 karats are accepted.

Documents Required & Shared Holdings

  • New customers and guarantors are required to open a Savings or Current Account with the bank.
  • Gold purchase receipt or bill should be submitted during the loan process.
  • Duly filled application form along with:
    • Residential Proof of Applicant
    • PAN Card of Applicant
    • KYC Documents of Applicant
  • Nominal membership.