Shopin

LOAN AGAINST PLEDGE OF GOLD ORNAMENTS

  • PURPOSE

    The loan amount can be used for any purpose but shall not be used for purpose prohibited by law and purchase of Gold. Loan is sanctioned to individual against the security of gold ornaments.


    MAX. AMOUNT / ELIGIBILITY / MARGIN

    Loan amount
    75% of Gold value certified by Gold valuers:-

    • Bullet Gold Loan : (BGLLN)
      1. Maximum amount : Rs. 2.00 lakh per person at any point of time.
      2. Period of loan : 12 months with option of bullet payment.
      3. Interest is not required to be paid every month.
    • Gold Loan : (EGLLN)
      1. Maximum amount : Rs. 25.00 lakh.
      2. Repayment in 12 EMIs i.e, within One year.

      Rate of Interest CLICK HERE

      Membership

      As per extant shareholding norms.

      SURETIES

      No Surety.

      PRIME SECURITY

      Pledge of Gold Ornaments

      COLLATERAL SECURITY

      Nil

      SERVICE CHARGES
      • As per extent Shareholdings Norms subject to min. Rs. 100/- and max. Rs. 1000/-. (Max. Rs.500/-  for Udupi Region Branches) + applicable GST
      • Gold appraisal charges as applicable.
      OTHER INSTRUCIONS
      • For the Gold ornaments less than 21 Carat & up to 18 Carat, the eligibility for the loan amount shall be calculated by the Valuer in proportionate terms.