The 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
Maximum Amount Rs.25.00 Lakh
SOD Limit on the basis of certified value of 10 gms
- Tenure of SOD is maximum 1 year.
Rate of Interest Click here
As per extant shareholding norms.
Pledge of Gold Ornaments
- @ 0.60% of loan amount subject to min. Rs. 100/- and max. Rs. 1000/-.(Max Rs.500 for Udupi Region Branches.) + applicable GST.
- Gold appraisal charges as applicable.
- SOD Limit shall be renewed before expiry of time limit of 1 year and the fresh valuation of gold shall be made with fresh limit.
- Any over drawing beyond the limit will not be allowed under any circumstances. The borrower should pay monthly interest on or before 10th of succeeding month.
- No SOD against Gold will be granted against pledge of security of Primary Gold, i.e 24 Carat Gold Bar, Coins and Biscuit.