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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

  • As per extant shareholding norms  

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
Saraswat-Bank
Saraswat-Bank