Gold Loan

Type of Customer Individuals:

Limits of Loans: Maximum Rs. 3.00 lacs for TL depending on the repaying capacity and existing banking relations.

Income Linkage: Income proof is required but linkage to amount of advance shall not be insisted on .

Basis of Advance/ Eligibility: 65%-70% of valuation. Valuation should be done by banks approved valuer.

Repayment Period:  Maximum repayment period is 12 months in case of Bullet repayment if loan amount is less than Rs. 1.00 lacs.

In other cases (EMI), maximum period 30 months.

Processing Fees:

  • Upto Rs.5.00 Laks- Max 1000/- + Service Tax
  • Including the valuation charges.

Shareholding: Regular Membership/Nominal Membership upto Rs. 5.00 lacs

Documentation:  6 months bank statement required/salary certificate

Nature of account:    Existing Banking relation are not necessary . However customer is required to open and operate Savings/Current Account.

Disbursement of Loan:   Loan shall be disbursed on the same day of Valuation.

Gold Loan Interest Rate

Interest Rate Loan Amount Minimum Loan Amount Maximum Period of Term Note
  • 12%
  • 13%
  • Above 5 lakhs
  • Up to Rs.10 Lakhs
  • Up to Rs.5 Lakhs
  • 1 year/ 12 Months
  • 1 year/ 12 Months