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. 15.00 lakhs

Rate of Interest:-

Please click here : Latest interest rates

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.