Lending to Agriculture Other Priority Sectors demand loan for financing against

• As the name suggests, this is the loan given against the security of gold ornaments/ jewellery/coins. This is mainly given for Agriculture, Allied and other Priority sector customers of our bank.
• All individuals including staff members who are the owner of the gold. ornaments/jewellery/specially minted gold coins sold are eligible.
• The weights of specially minted gold coins sold by banks do not exceed 50 grams per customer.
• The gold ornament to be pledged should be of a minimum 18-carat purity.
• The applicant should be local resident & must have a saving account with the Branch.
• No third party loan to be granted.

Minimum 18 years and maximum 70 years.

The loan Limit is arrived at the value of security i.e. gold offered, net of the margin. However, in case of agriculture purpose, the scale of finance is also considered apart from the advance value of the pledged gold ornaments/ jewellery. Also, the loan limit is restricted to the value of gold with applicable margin.

• For Gold Loan maximum loan amount is Rs. 25 lakhs per borrower.
• No minimum loan amount stipulated.
• Multiple Loan accounts are permitted.

Loan to Value (LTV) decided by Bank (time to time).

The repayment period is maximum 12 months. No pre-payment charges

• No, loans under this scheme can be granted by designated and identified Branches only. The pre-condition is that the prospective borrower should have his Savings Bank account.

At present more than 9500+ Branches are sanctioning Gold Loan at all India level.

Processing Charges

• Up to Rs 3.00 Lakhs – NIL
• Above Rs. 3.00 lakhs – Rs. 25.00 lakhs - 0.25% of the sanctioned limit + GST (Maximum Rs 3500 +GST )

Other applicable charges

• Only assayer charges @ 50 paise per every Rs 100 net assayed value of Gold ornaments with a minimum of Rs 25 and a maximum of Rs 350 per assaying to be recovered from the borrower.

• Yes, a loan can be availed against the pledge of gold coins sold by the banks. A maximum limit of 50 gm per customer will be eligible for Gold Loan.

• Yes, part payment is allowed without any charges.

• No.

• Instant gold loan and quick servicing
• Minimum 18-carat purity gold
• No prepayment/pre-closure charges
• No processing charges up to Rs. 3 lakhs for agriculture purpose
• Utmost security of your ornaments
• More than 9500+ branches disbursing Gold Loan at all India level