Gold Loan
Type of loan
|
Gold Loan Non-agriculture
|
Gold Loan –Agriculture(AGL)
|
Method of Repayment
|
Non-EMI
|
Non-EMI
|
Purpose
|
Various Purposes.
|
Agricultural Purposes.
|
Maximum Limit
|
25 Lakhs
|
1.5 Lakh per customer
|
Eligibility Criteria
|
To individuals
|
To individuals
|
Scale of finance
|
85 % of the market value of gold ornaments pledged.
|
85 % of the market value of gold ornaments pledged.
|
Margin
|
15% of the market value of gold ornaments.
|
15% of the market value of gold ornaments.
|
Holiday period
|
Not applicable.
|
Not applicable.
|
Repayment period
|
1) 3 months
2)
6 months
3) 12 months
|
1)
6 months
2) 12
months
|
Repayment type
|
Single payment.
|
Single payment.
|
Rate of interest
|
As per interest structure.
|
As per interest structure.
|
Penal Interest
|
After due date 2% additional interest is charged
|
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.
|
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
|
Nil
|
Yes
|
Security
|
Gold ornaments.
|
Gold ornaments.
|
Application cum other details including D.P.Note, Token, and Voucher etc., of
gold loan should be printed in pre-printed stationery.