Title Norms
Purpose
  1. To meet urgent financial needs.
Eligibility
  1. Any individual who is the true owner of the ornaments.
Limit of loan
  1. For Bullet repayment – 2 lakh.
  2. Maximum loan/OD up to  Rs. 50 lakh.
Basis of Advance
  1. 75% of valuation of gold ornaments.
Repayment Period
  1. Bullet repayment- 12 months.
  2. Others Max  – 36 months.
Rate of Interest
  1. PLR- 3.25= 11.00% p.a. (floating)
    Present PLR : 14.25%p.a.
Processing fee
  1. Nil.
Shareholding
  1. For Loan up to Rs 1.00 Lakh: Nominal membership.
  2. For Loan above Rs 1.00 Lakh: 2.50 % of sanctioned amount maximum Rs 25000/-.
Other charges
  1. Custody charges of Rs. 300/- per quarter in case the delivery of ornaments is not taken within one month from the closure of loan account.
  2. Valuation charges at actual.
Documentation
  1. Duly filled prescribed application form.
  2. Latest Photograph, Photo Identity & Residence proof of the Applicant.
  3. Declaration from borrower that he is the true owner of the ornaments.