SWARNA SIRI GOLD LOANS

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.NoProduct NamePeriodRate of InterestPenal InterestRate per Gram (Rs)Processing Charges
1Krishi Gold loan1  – Year11 %3%2300Nil
2PGL6 – Months12 %3%22000.5%
3SUCO Gold Loan  (SGL)1 – Month
2 – Months
3 – Months
12 %
12.5%
13 %
3%
3%
3%

3200

3000

0.5%
4SUCO Gold Loan
(SGL)
4 – Months
5 – Months
6 – Months
13.5 %
14 %
14.5 %
3%
3%
3%
2800
2600
2400
0.5%
5GOD  –  S P12 Months /    3 Yrs with Review Period – 12 Mths.12%6%32001.00%
6Swarna Siri  12 – Months10% 3%
32000.25%
7Golden Business Loan (Cir. No. 45/21-22)2 – Years12%5%32000.25%