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DEPOSITE LOAN FORM TENDER



GOLD LOAN



Gold loan is sanctioned by accespting the gold ornaments ofv the customer as pladge.

Personal loan is sanctioned base on the basis of source of income and repayment capacity of an applicant.

TERMS

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Properties

  1. Maximum loan amount – Rs. 50.00 lakhs
  2. Minimum loan amount – Rs. 20,000/-
  3. Margin
    4. -Gold Loan (EMI based): 25%
    -Liquid Gold Loan (Overdraft): 25%
    -3 Months Bullet Repayment Gold Loan*: 30%
    -6 Months Bullet Repayment Gold Loan*: 30%
    -12 Months Bullet Repayment Gold Loan: 35%
    * No valuation of pledged gold is required at the time of next two renewals, provided the gold is in the custody of the bank.
  4. Security - Pledge of gold ornaments duly verified for quality and quantity.
  5. Processing Fee:
    6. Loan amount up to ₹ 3.00 lakh – Free
    Loan amount above ₹ 3.00 lakh –
    -3 Months Bullet Repayment Gold Loan : ₹ 100+ GST
    -6 Months Bullet Repayment Gold Loan : ₹ 150+ GST
    -12 Months Bullet Repayment Gold Loan: 0.25% of the loan amount subject to a minimum of ₹ 250 and a maximum of ₹ 5000+ applicable GST
    -Liquid Gold Loan (Overdraft): 0.25% of the loan amount subject to a minimum of ₹ 250+ applicable GST
    -Gold Loan on EMI: 0.25% of the loan amount subject to a minimum of ₹ 250+ applicable GST
    Others: The charges of gold appraiser will be borne by the applicant.

Eligibility

  1. Age : 18 years and above
  2. Occupation: Anyone with a source of continuous income (singly or jointly) including bank employees, pensioners (no income proof required)

Repayment

  1. mode of payment
    2. -Gold Loan (EMI based): Repayment of principal and interest will commence from the month following the month of disbursement. -Liquid Gold Loan: Overdraft account with transaction facility. Monthly interest should be repaid. The drawing power of the account will be calculated based on the current market value of gold declared by the Bank from time to time. -3 Months Bullet Repayment Gold Loan: Interest plus Principal on or before the end of the loan tenure -6 Months Bullet Repayment Gold Loan: Interest & Principal on or before the end of the loan tenure -12 Months Bullet Repayment Gold Loan: Interest & Principal on or before the end of the loan tenure
  2. repayment term
    3. -Gold Loan (EMI Based) : 36 Months -Liquid Gold Loan (Overdraft): 36 months -3 Months Bullet Repayment Gold Loan: 3 Months -6 Months Bullet Repayment Gold Loan: 6 Months -12 Months Bullet Repayment Gold Loan: 12 Months Note: The "drawing limit" may fluctuate as per the current market price of gold, within the permitted limits.

Required Documents

    when applying for a loan
  1. Application form for gold loan and two photographs.
  2. Proof of Identity and Proof of Address.
  3. Witness letter in case of illiterate borrowers.
    4. At the time of disbursement
  4. DP Note and DP Note Delivery Letter.
  5. Gold jewelery delivery note.
  6. arrangement letter.

*All other Terms & Conditions Applied. For more information please contact our Branch nearest to you.