Loan Account

Gold Loan
Your Gold Your Loan..

Loan Against Gold

Gold loans are secured loans where gold jewellery is used as collateral. This type of loan is granted to meet personal / business needs of an individual. Gold Loans are granted up to a maximum of 75% of the market value of the gold and the rate of advance will be revised by the board members from time to time.


The process for Gold loan is simple where the pledged gold is evaluated for its purity and weight by the valuer. Based on it, the pledged gold’s market value is determined based on its current rate. The loan repayment can be through monthly instalments or lump sum payment. Defaulting on loan repayment in the specified period can lead to auction or sale of pledged gold ornaments.

Features & Benefits

  • Rate of Interest currently at 8%. p.qtr.
  • Tenure is 12 months from date of sanction.
  • No Sureties required.
  • No penal for pre closure.
  • Standing Instruction facility for loan repayment.
  • SMS Facility for transactions

Eligibility

  • An Individual in his / her name

Documentation

  • Application Form
  • Security: Pledge of Gold Ornaments
  • Bond Paper & Jeweller Charger as applicable
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