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| Loans against Gold Ornaments for Non Agricultural Purpose |
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 Purpose
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Loans are allowed for various purposes like
Pure consumption,
Personal
Business and not for speculative purposes.
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| Eligibility |
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Any properly identified person/existing customers who are properly identified and accepted as a customer as per KYC-AML guidelines
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 Rate of interest |
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One year RLLR + 2.00 % irrespective of loan amount and loan period. | |
| Prepayment charges |
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No prepayment charges.
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| Security |
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Up to 50 grams coins only issued banks shall be accepted per borrower.
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| Quantum of Finance per gram w.e.f. 01-03-2020 |
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| Rs. 2,500/- per gram or 75% of the market value (per gram 22 Ct. pure) of gold which ever is less. |
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No Processing charges
Appraising charges : 1% of the loan amount sanctioned for limits up to Rs. 2.00 lakhs.
0.75% of the loan sanctioned with a minimum of Rs. 2000 /- for the limits above Rs.2.00 lakhs.
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