Purpose – To meet the cash requirements of customers having gold jewellery or ornament then you can take loan against such gold jewellery or ornament as security
Eligibility – Existing clients having satisfactory Dealings with the bank or other person introduced by our reputed existing client; salaried individual, self employed business or Professional Doctor, CA, Consultants, engineers, businessmen etc. Any other person with proper introduction (in compliance with KYC norms) by minimum one year old existing customers of high standing or reputation
Age Limit – Age in between 18 yrs to 60 yrs including maturity of loan
Share Money – 1% of loan amount unlike other personal loan
Loan Amount – The Loan amount will be determined in the following manner
Minimum amount of loan – Rs.10, 000/, maximum amount of loan – It will be restricted to Rs.1 lakh, the maximum amount of loan will depend on the valuation of the Gold by the approved jeweler of the bank less margin as stipulated.
Guarantee – Personal guarantee of one person of sufficient means and standing.
Repayment – The maximum period of repayment is 3 years or 36 EMI.
Security – Pledge of gold ornaments with the bank