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Gold Loan Yojana
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Gold Loan Yojana


Title

Norms

Purpose

  • To meet urgent financial needs

Eligibility

  • Any individual who is the true owner of the ornaments  

Limit of loan

  • For Bullet repayment 2 lakh                    
  • Maximum loan/OD up to  Rs. 50 lakh

Basis of Advance

  • 75% of valuation of gold ornaments

Repayment Period

  • Bullet repayment- 12 months
  • Others Max  – 36 months

Rate of Interest

  • PLR- 3.25= 11.00% p.a. (floating)

        Present PLR : 14.25%p.a.

Processing fees

  • Nil 

Shareholding

  • For Loan up to Rs 1.00 Lakh: Nominal membership
  • For Loan above Rs 1.00 Lakh: 2.50 % of sanctioned amount maximum Rs 25000/-. 

Other charges

  • Custody charges of Rs. 300/- per quarter in case the delivery of ornaments is not taken within one month from the closure of loan account.
  • Valuation charges at actuals

Documentation

  1. Duly filled prescribed application form
  2. Latest Photograph, Photo Identity & Residence proof of the Applicant.
  3. Declaration from borrower that he is the true owner of the ornaments
Conditions apply
93902443ce2aa20501d710077a23b4f2 savings account, loans, SME loans, NRI banking services, Forex, car loan, home loan, co-operative bank, trade finance
Saraswat-Bank
Saraswat-Bank