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Gold loan to Individuals for Agriculture purpose

Type of loan
Short term loan –Agriculture.
Method of Repayment
Non-EMI
Purpose   
Agriculture purpose.
Eligibility criteria
To individual farmers.
Scale of finance
85 % of the market value of gold ornaments pledged.
Margin
15% of the market value of gold ornaments.
Holiday periodNot applicable.
Repayment period
12 months
Repayment type
Single payment
Rate of interest
As per interest structure.
Penal Interest
After due date 2% additional interest is charged
Charges   
1)   Insurance charge @Rs: 1 per 1000 subject to a Minimum of 10 and a maximum of  Rs:50.
2)   Appraiser charge @ 2 per 1000 up to a maximum of Rs:100 per packet.
Subsidy/Re-finance   
Yes
Security   
Gold ornaments.

This loan is issued only on the support of land tax receipt for the current year subject to scale of finance .
Single disbursement limit restricted to a maximum of  Rs.100000.   

Application cum other details including D.P.Note, Token, and Voucher etc., of gold loan should be printed in pre-printed stationery.

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