Our Bank Gold Loan is your definitive solution to meet your imperative financial needs.

Gold Loan

Who can take out a loan?
1. The applicant must be a Class A or B member/ account holder of the organization.

2. Gold mortgage limit up to Rs. 5 lakhs

3. Loan up to 75% of the appraisal.

Mortgage for loan:-
1. The gold ornaments being pledged by the applicant must be his/her own property.

Loan amount:-
1. The maximum loan limit will remain Rs. 5.00 lakhs.

Distance (Margin) :-
1. The loan sanction amount will be decided on the basis of the valuation, as per the decision taken in the meeting of the Hon'ble Board of Directors of the organization, the base price will be decided by estimating the market price during that period and accordingly, the loan amount will be sanctioned up to a maximum of 75%. The valuation certificate issued by the authorized bullion dealer of the valuation organization should clearly mention the description of the jewelry, the fineness of the jewelry, the gross and net weight of the jewelry.

Interest rate and interest collection:-
1. Interest of 12% per annum will be charged on the said loan and it will be credited to the loan account every month.

Repayment :-
1. The repayment period for this loan will be 12 months.

If the loan transaction is unsatisfactory (the account becomes NPA if 3 consecutive installments are missed), the entire loan will have to be repaid in a lump sum with interest.
The Board of Directors of the institution shall have the right to change the interest rate from time to time as per the policy of the institution and as per the approval of the Board of Directors.