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Rural

Purpose

To meet Credit needs for Agriculture/MSME/OPS/Retail/Consumption Purpose.

Eligibility

Any individual who is lawful owner of Gold jewellery/ornaments/coins, preferably account holder of the Branch.

Quantum of Loan

a) For Agricultural/ MSME/ Retail and Other Priority Sector activities:Maximum Rs.15.00 lakh. (can be raised upto Rs. 25.00 lakh)
b) For other purposes:Maximum Rs. 10.00 lakh

Security:

Pledge of gold jewellery/ornaments/coins belonging to the borrower intending to be pledged with the Branch.

Margin

For Agricultural purpose: 15 to 20% For MSME/OPS/ Other purpose: 25% (15% till 31.03.2021)

Rate of Interest (w.e.f. 01.10.2020)

Agricultural Purpose for limit upto Rs, 15 Lakh (payable within 18 months):
Against Hallmarked Jewellery and Gold Coins (Max 50 Gms): 7.35%
Against Normal Jewellery: 7.40%
For other tenure/purposes please contact nearest branch.

Processing Charges

Limit upto Rs. 1.00 Lakh: NIL
Limit over Rs. 1.00 Lakh: Rs. 125/- per Lakh for Hallmarked Jewellery and Rs. 150/- per Lakh for Normal Jewellery. (For Limit upto Rs. 5.00 Lakh maximum Rs. 250/- for Hallmarked Jewellery and Rs. 300/- per Lakh for Normal Jewellery.)

Repayment

Principal repayment schedules may be fixed at monthly, quarterly, half-yearly, yearly instalments or bullet repayment depending on income generation and/or seasonality.