| 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% |
| EMI |
BRLLR+SP+2.00% |
|
| 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 |