THE PONDICHERRY CO-OPERATIVE URBAN BANK LTD.,
Registration No - P-14, Address : No. 197, Jawaharlal Nehru Street, Puducherry - 605 001

Eligibility :

  • Individuals more than 18 years, who own jewels, engaged in business activities like small business/trade/professional and self-employed etc.

Purpose :-

  • To develop business, Marriage, Education, House repair and Medical treatment

Quantum of Loan :-

  • Loans shall not exceed 75% of the estimated market value of the Gold Jewels to the maximum of Rs. 10.00 lakhs

Rate of Interest:-

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Repayment:-

  • Loans shall be repaid within a period not exceeding 12 months or such lesser period as the bank determines from time to time.

Security:-

  • Fully secured by pledge of gold jewellery with fineness of 20 ct to 22 ct.

Processing Charges:-

  • Rs. 3 per 1000 as Appraiser Commission Rs. 1 per 1000 as insurance fees, Rs.10 as books and forms and Rs.6 as Nominal Membership fees

Document Required:-

  • Two copies of passport size photograph
  • Voter ID/ Ration Card Xerox copy for Residence proof
  • A Declaration from the person who pledged the items to the effect that the Jewels pledged belong to him.

General :-

  • If the loan is not repaid on or before the due date, it shall be competent for the Manager/ Branch Manager or by the Managing Director to sell the pledged Jewels by auction and recover the loans amount with interest, charges etc., in the Presence of Administrator.
  • While all efforts have been made to update the information, constituents are requested to contact the branches for latest details.