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Swarna Loan(Gold Loan)
Let your idle gold also glitter
If you need funds for purposes like medical expenses or any other contingencies, Swarna Loan; Swarna Overdraft and Swarna Express Scheme is ideal for you
- Hassle-free, quick loan, co-obligation and no guarantee required.
- Reasonable rate of interest
Purpose
- To meet medical expenses and other unforeseen commitments / contingencies and investment / domestic purposes.
Eligibility
- Credit-worthy SB Account holders with satisfactory dealings or new customers properly introduced and credit-worthy.
Quantum
- Minimum Rs. 5,000/- Maximum Rs.20,00,000/
Repayment
- The entire loan is to be repaid within 12 months from the date of sanction as bullet payment along with interest.
- Interest will be accrued to the account at monthly rests compounded but will become due for payment along with principal only at maturity.
- Swarna Overdraft: 2 Years
- Swarna Express: 6 Months (Bullet Repayment)
Rate of Interest
Documents & formalities to be submitted
- Application for Swarna Loan
- Certificate by the Jewel Appraiser (Bank will arrange)
- Salary Certificate and Form No.16 / income proof
Security: Finance against
Processing Charges
- Swarna Loans:0.50% of the Loan amount (Minimum of Rs.500/- and Maximum of Rs. 5,000/-).
- Swarna Overdraft:0.50% of the Loan amount (Minimum of Rs.500/- and Maximum of Rs. 5,000/-).
- Swarna Express:50% of charges applicable to Swarna Loans.