Loan Against Pledge of Gold Ornaments
Purpose
The loan amount can be used for any purpose but shall not be used for purpose prohibited by law and purchase of Gold. Loan is sanctioned to individual against the security of gold ornaments.
MAX. AMOUNT / ELIGIBILITY / MARGIN
75% of of Loan to value ratio at the average of the closing price of 22 carat gold for the preceding 30 days as quoted by the Indian Bullion and Jewellers Association Ltd.
Bullet Gold Loan
- Maximum amount : Rs. 2.00 lakh per person at any point of time.
- Period of loan : 12 months with option of bullet payment.
Gold Loan : Secured Overdraft (Business Loan)
- Maximum amount : Rs. 5.00 lakh per person at any point of time.
Aggregate gold loan finance per person is restricted to Rs.5 Lakh.
Membership
Regular Membership upto Rs.5.00 Lacs
PRIME SECURITY
Pledge of Gold Ornaments
SERVICE CHARGES
- Service Charges - NIL.
- Gold appraisal charges and Insurance as applicable.
NEW SOLARNET METER SYSTEM LOAN SCHEME
| NEW SOLARNET METER SYSTEM LOAN SCHEME | |
|---|---|
| Purpose | To install rooftop solar projects in industrial / educational / hospitals as well as household premises |
| Eligibility | Minimum Take home Income/Salary per month after EMI amount: 40% of Net Income subject to following :- Minimum - Rs.12,000/- (Family members income can be clubbed for individual) |
| Repayment | Up to 72 EMIs including moratorium. |
| Rate of Interest | 10% p.a. |
| Margin | 25% of the total project cost |
| Prime Security | Bank’s charge by way of hypothecation to be created on rooftop panel assets to be purchased out of bank finance |
| Collateral Securities | Collateral Securities :
|
| Surety | Two Guarantors |
| Service Charges | |
| Share Linkage | Applicant: 2.5% of the loan amount sanctioned |
| Insurance | Comprehensive insurance of all assets hypothecated /mortgaged to the Bank. |