Any person with assured monthly Income acceptable to the Bank. Gold loan will be granted to Associate and Regular Members of the Bank at the discretion of the Branch Manager or the Officer authorized by the Board from time to time. Such a person should be a good and regular customer of the Bank or others who are introduced as per KYC norms.
Rate of interest
PURPOSE
ROI
Priority
Agricultural and MSME
Non - priority
10..00% pa
upto Rs. 4,00,000/- (1 year)
10.00%
above Rs.4,00,000/-
10.00%
Loan Amount
Basing on market price
Margin
Maximum permissible loan will be 75% of the 30 days average market value.
Other Terms
Membership is necessary for the borrower to avail this loan.
Terms and Conditions:
No processing charges for the Jewel Loans above Rs 4 lakhs repayable in monthly installments. However, Jewel Appraiser fees shall be charged.
