GOLD
LOAN
Type of
loan
: Short term loan –
Non-agriculture.
Method of Repayment
:
Non-EMI
Purpose
: Various purpose.
Eligibility Criteria
: To
individuals
Scale of finance
: 85 % of the
market value of gold ornaments
pledged.
Margin
: 15% of the
market value of gold ornaments.
Holiday period
: Not
applicable.
Repayment period
: 1) 6
months
2)
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: 50 per
packet.
Subsidy/Re-finance
: Nil
Security
: Gold ornaments.
Single
disbursement limit restricted to a maximum of
Rs.100000.
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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 period
: Not
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: 50 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. ->Rs.100000.
Application
cum other details including D.P.Note, Token, and Voucher etc., of gold loan
should be printed in pre-printed stationery.Gold ornament weight from
electronic weighing balance may be captured automatically.
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