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.