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Advance Against Gold Ornaments / Jewelries

Because Different People
Have Different Needs.

Presenting a Wide Range of Loans
to Power Your Dreams

Advance Against Gold Ornaments / Jewellery

Sn

Parameter

Particulars

1

Type of facility

Demand Loan only with one time disbursement.

2

Purpose

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.

4

Age

Minimum - 18 Years; Maximum - 70 Years

5

Maximum Limit

Rs. 25 Lakhs per borrower

6

Tenure

Maximum: 12 months

7

Repayment Mode

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.

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/-

Nil

Above Rs. 25,000/- upto Rs. 5.00 lakh

0.50% of the limit sanctioned (Minimum: Rs. 500/= and Maximum Rs 2500/=)

Above Rs. 5.00 lakh

0.50% of the limit sanctioned (Maximum Rs. 3500/=)

11

 Documentation

  • Application form
  • KYC of Borrower
  • 1 Latest Photograph

12

Prepayment /Part payment Charges

NIL

13

Security

The loan shall be secured by minimum 18 carat Gold Jewellery/Ornaments.

*Subject to change of MCLR

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