Gold Loan
Purpose:
To meet the credit needs of farmers for their farm/ off-farm needs
Eligibility:
Individual local resident farmers, preferably account holders of the Branch
Quantum of finance:
Accordingly to the value of jewellery to be pledged/ card rate - Max. Rs.15.00 lakh
Security:
Pledge of gold ornaments/ gold coins belonging to the farmer intending to be pledged with the Branch
Margin:
40% of value worked out on the basis of card limit as on date of finance Rate of interest:
Interest Rate as decided by the Bank from time to time. (ROI applicable to Agriculture)
Repayment:
Max. 18 months
Documents:
Latest copies of land records
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