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Loan Details
Gold Loan Scheme
Simple and convenient financing solutions to meet personal and professional expenses.
Purpose
- to meet Personal/ professional Expenses
Quantum of Loan / Amount
- Term loan - Maximum Limit Rs.50.00 lakh
- Bullet repayment - Rs.2.00 lakh
Margin
- 25% of valuation of gold ornaments
ROI
9.50% p.a
Up to Rs.2.00 lakhs Men
9% p.a
Up to Rs.2.00 lakhs Women
9.50% p.a
Loans above Rs.2.00 lakhs
Documents / Income Proof
- Prescribed Loan application form
- KYC documents of applicant i.e., photograph, Identity proof, residence proof
- Declaration form borrower that he is the true owner of the ornaments.
- Nomination form (Annexed in Policy) duly filled and signed by the borrower/s.
- Above two lakhs loans income scrutiny to be done.
- Gold above two lakhs, to be valued from 2 gold appraisal.
- Consent letter if loan is given to male member against female ornaments.
Security
- Pledge of Gold Ornaments
Surety
- no surety required
Tenure / Repayment
- 12 months
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