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Retail Gold Loan

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Sr. No Parameter Particular
1. Type of facility Demand Loan, Over draft and EMI
2. Purpose Any purpose other than speculation
3. Eligibility All individuals, being true owner of the gold ornaments/jewellery & specially minted gold coins sold by the Banks (maximum up to 50 gm per borrower). The applicant must be Indian resident.
4. Maximum Limit Rs.25.00 lakhs per borrower.
5. Tenure 12 Months and Max. 36 months for EMI scheme.
6. 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.
EMI – EMI on monthly basis.
7. Interest Rate*
Demand Loan BRLLR+SP+2.00%
Overdraft BRLLR+SP+2.15%
8. Processing charges Up to Rs 25000 /- NIL
Above Rs 25000 /- up to Rs 25.00 Lakhs – Applicable charges +GST
9. Security Secured by min. 18 carat Gold Jewellery/Ornaments.
10. Pre closure / Pre payment NIL

* Subject to change of BRLLR.

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