This loan is for those who want to avail a bank facility to purchase gold.

Deposit Loan
Who can take out a loan?
1. The applicant individual/firm must be a Class A or B member of the organization.

Reasons for loan:-
1. This loan will be provided for capital expenditure and working capital to any legally recognized business engaged in buying and selling as well as to any industry engaged in producing and selling.

Loan Limit and Distance:-
1. Under this scheme, the cash credit loan limit will be provided up to a maximum of 70% against the collateral of immovable property.

2. The stock market margin for this loan will remain at 40% and the loan will be extended up to 50% or as per the approval of the Board of Directors.

Interest rate:-
1. Interest will be charged as per the rules of the institution as decided by the Board of Directors from time to time. The interest rate will remain at 13% at present and a penalty interest of 2% will be charged.

Collateral for loan:-
1. 90 days of owner's own remaining stock for the shop

2. Guarantors with two competent members

3. Up to 50% of the mortgage will be paid off

4. The Board of Directors shall have the right to take additional collateral and guarantors for loan approval.

Repayment :-
1. The term of the said loan will be for one year. The Board of Directors will have the right to extend or reduce the term.

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.