Inner Banner

Golden Cash Credit

Individuals are allowed to avail this facility against the gold ornaments pledged.

Individuals have to become customer before availing this facility.

Limit is sanctioned on the basis of value of gold pledged.

Limit sanctioned for a period of one year

Interest on daily products basis

Penal interest @ 2% will be charged when the account becomes overdrawn (for the overdrawn amount only)

After the expiry of CC limit period 2% additional interest will be charged over the contract rate.

Withdrawals are allowed only through cheque book.

Charges are applicable for this type of CC facility. Folio charge @ Rs-10 will be charged on this account once in a year on 31st of March.

Purpose: These types of loans are issued for business purpose.

Security: Pledge of gold. Limit is sanctioned up to 85% of the value of gold pledged.

Drawing Power Limit (DPL) is restricted as 85% of stock value.

At the time of Closure/ Renewal of a/c an amount @ 0.5% of loan amount subject to a maximum of Rs-500 is collected as closure charges and credited to Miscellaneous Income and Rs-100 towards insurance charge.

Back to Top