| Eligibility |
The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. |
| Primary Security |
Gold deposited by the proponent for pledge, should be only in the form of ornaments. Name of the persons if inscribed on the gold ornaments,
should be that of the applicants or a no objection letter is to be submitted from the concerned person along with his proof of identity. |
| Amount of Loan |
Amount of loan depends on the quantity and quality of gold subjected to a maximum of total limit of Rs20.00 Lakhs per individual. |
| Margin |
The margin varies as per the guidelines of RBI from time to time and the current margin is 85% of the appraised value of the gold. |
| Tenure of Loan |
3 months / 6 months / 12 months |
| Contribution to Share Capital And others |
Single Share should be opened to be a member |
| Processing Charges |
0.2% of the loan amount up to 600/-(maximum) only |
| Required Documents |
Two photographs & KYC documents if the Applicant is not the savings account holder of the Bank& ornaments proposed for pledge. |
