Beneficiary – Those who wants to avail gold loan facility against their gold.
Sanctioning Limit – One can avail this type of loan facility after fulfilling necessary
formalities and documents.
Criteria to avail gold loan –
Borrower should be member / shareholder of the bank.
If anyone who is not shareholder of the Bank and wants to avail the loan, he has to
become shareholder by depositing Rs. 1000/- plus 100 entry fees and 18% GST
towards membership.
Borrower should submit his photograph, residential proof, Xerox copy of receipt of
purchase of gold jewellery pledged by the applicant and weight receipts on
Dharmakata.
If receipt of purchase of gold jewellery by the applicant is not available then
A separate affidavit should be submitted by the applicant regarding the ownership of
these ornaments.
Borrower should give advance cheques to Bank for repayment purpose.
The repayment period of loan is 12 months.
Loan interest rate would be 10%.
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