SWARNA SIRI GOLD LOANS

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The Following Conditions:

ELIGIBILITY

Regular Member – Upto Rs. 2,00,000/- (aggregate per party)
Nominal Member – Upto Rs. 1,00,000/- (aggregate per party)
In the case of all existing gold loan accounts, branches have to verify and ensure that the outstanding balance should not exceed the value of ornaments arrived at as per the rate per gram mentioned in this circular. Interest is to be recovered as and when it exceeds LTV.

QUANTUM OF FINANCE

The quantum of finance for fresh gold loans shall be as per the above-mentioned Rate per Gram.
Wherever outstanding balance exceeds the average market value recovery steps are to be initiated immediately in case of such loan accounts. Even after your repeated persuasion if the account is not closed in the ordinary course, you shall proceed with the auction of gold jewelry as a last step of recovery within a reasonable time.

Quantum of finance for all types of Gold Loans including revised is furnished here below.

S.No Product Name Period Rate of Interest Penal Interest Rate per Gram (Rs) Processing Charges
1 Krishi Gold loan 1  – Year 11 % 3% 2300 Nil
2 PGL 6 – Months 12 % 3% 2200 0.5%
3 SUCO Gold Loan  (SGL) 1 – Month
2 – Months
3 – Months		 12 %
12.5%
13 %		 3%
3%
3%

3200

3000

 0.5%
4 SUCO Gold Loan
(SGL)		 4 – Months
5 – Months
6 – Months		 13.5 %
14 %
14.5 %		 3%
3%
3%		 2800
2600
2400		 0.5%
5 GOD  –  S P 12 Months /    3 Yrs with Review Period – 12 Mths. 12% 6% 3200 1.00%
6 Swarna Siri  12 – Months 10% 3%
 3200 0.25%
7 Golden Business Loan (Cir. No. 45/21-22) 2 – Years 12% 5% 3200 0.25%