Gold Loans
Overview
| Purpose | : | Demand Loan OR Overdraft by way of pledge of gold ornaments for genuine requirements of individuals |
| Eligibility | : | All individuals who are 21 years and above |
| Security | : | Pledge of Gold ornaments or Jewellery made of 22 carat or 18 carat & Gold coins issued by banks |
| Loan Amount | : | Minimum `6,000 |
| Interest Rate | : | CLICK HERE to view interest rates |
Features
- Available as Demand Loan and Overdraft also
- Gold to Cash in 30 Minutes
- Safety of Your Gold Assured
- Available on all Working Days
- Easy documentation
- Flexible tenure and repayment options
- Walk into any Branch
- 1% interest concession if paid within 6 months
Documentation
- Proof of identity (passport copy/voters id/driving license/pan card)
- Address proof ( electricity bill/landline telephone bill/passport copy/shop & establishment certificate/rental agreement/ration card)
- 2 passport size photograph
Scale Of Finance
Scale of finance is linked to market price of the gold and is revised from time to time, presently it is as under
| Type of gold ornaments | Scale of finance per gram (Net wt) |
| For specially minted gold coins sold by Banks and22 carat gold ornaments or higher purity with BIS Hallmark of 0.916. | `2150/- or 75% of the market value of Gold whichever is lower. |
| 22 carat gold or higher purity without BIS Hallmark. | `1850/- or 75% of the market value of Gold whichever is lower. |
| 18 carat gold ornaments. | `1000/- or 75% of the market value of Gold whichever is lower |
