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)
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% |