|
Sn
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Parameter
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Particulars
|
|
1
|
Type of facility
|
Demand Loan only with one time disbursement.
|
|
2
|
Purpose
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Any purpose other than speculation
|
|
3
|
Eligibility
|
- All individuals being the true owner of the Gold ornaments/ Jewellery/ specially minted gold coins sold by the banks. The weights of specially minted gold coins should not exceed 50 grams per customer and have saving account with the Bank’s.
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|
4
|
Age
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Minimum - 18 Years; Maximum - 70 Years
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5
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Maximum Limit
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Rs. 25 Lakhs per borrower
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|
6
|
Tenure
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Maximum: 12 months
|
|
7
|
Repayment Mode
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Monthly/Quarterly/Half Yearly installment or bullet payment as per repayment capacity of the borrower with the provision that monthly interest as and when charged is required to be serviced.
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|
8
|
Interest Rate*
|
One Year MCLR +SP+2.50 % per annum with monthly application.
|
|
9
|
Margin
|
Loan to Value (LTV) decided by Bank (time to time).
|
|
10
|
Processing charges
|
|
Loan Amount
|
Unified Processing Charges (Exclusive of GST)
|
|
Upto Rs. 25,000/-
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Nil
|
|
Above Rs. 25,000/- upto Rs. 5.00 lakh
|
0.50% of the limit sanctioned (Minimum: Rs. 500/= and Maximum Rs 2500/=)
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|
Above Rs. 5.00 lakh
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0.50% of the limit sanctioned (Maximum Rs. 3500/=)
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|
|
11
|
Documentation
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- Application form
- KYC of Borrower
- 1 Latest Photograph
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|
12
|
Prepayment /Part payment Charges
|
NIL
|
|
13
|
Security
|
The loan shall be secured by minimum 18 carat Gold Jewellery/Ornaments.
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*Subject to change of MCLR