Overdraft (non priority) Gold Loan Scheme

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.

Age

5

Maximum Limit

Rs. 25 Lakhs per borrower

6

Tenure

Maximum: 12 months subject to annual review.

7

Repayment Mode

• Interest on monthly basis
• The principal will be repaid by way of bullet payment at any time during the tenure of the loan.

8

Interest Rate

BRLLR +SP+1.75 %

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

10

Processing charges

Documentation

• Application form
• KYC of Borrower
• 1 Latest Photograph

Prepayment /Part payment Charges