Pusad Urban Bank
 
Loan Against Gold
 
Eligibility
  • The applicant should have the resident of area of operation of the Bank.
  • The applicant should be a owner of Gold.
  • The Gold Loan can not be sanctioned to the unknown person or strangers
Membership
  • The applicant should be a permanent or nominal member of the Bank .
Basis for deciding loan limit
  • 60% of the present market value of the Gold.
Documents required
  • Residential proof.
  • Declaration of ownership of Gold.
  • If stridhan the consent letter.
Guarantors
  • Guarantors not required.  
Collateral security
  • Not required. 
Interest Rate
  • Interest will be charge on monthly basis as per the prevailing rate.
  • penal interest 2% will be charged in case of default.
Fees and charges
  • 2.5% linking shares.
  • Processing fees as per the Bank rule.
  • Stamp duty as per the bank rule.
 
 
 
       
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