Business Gold Loans
“Emergency Business Gold loan” of the Bank to facilitate our customer to meet their short term requirements.
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This loan shall be granted on the following purposes under priority sector. Industry / Business / Service activities/Consumption.
Business Gold Loan Scheme Details
term length
Three Months Only
Principal Repay Frequency
Quarterly
PENAL INTEREST
2%
Type of Repayment
End of the Term
Interest Repay Frequency
Quarterly
Processing Fee
1% with the Min of Rs.250/- only.
RATE OF INTEREST
Communicated from time to time by Head office. Present 13%.
Quarterly Service Charges
Upto 25K – Rs.50/-
>25K -Rs.100/-.
Gold Appraiser Fee
Rs.2.00 per 1000/- with a minimum of Rs.40/-only.
QUANTUM OF LOAN
Minimum Rs.5000/- Maximum Rs.01 Lakh. If the customer is the member of the Bank then loan up to Rs.2 Lakh may be sanctioned
Rate of Advance
The rate of advance against gold ornaments is Rs.1800/- per gram of Sovereign touch gold (22 carat).