|Minimum Loan Amount ||Rs. 1 Lakh |
|Repayment Tenor ||12 Months (Overdraft Facility). The Limit can be renewed for a further period of 12 months, subject to the discretion of sanctioning authority. |
|Primary Security ||Pledge of gold jewellery with a minimum purity of 22 Carats and Gold Ingots sold by banks. |
|Collateral Security ||Nil (Optional) |
|Guarantee ||Nil (Optional) |
|Processing Charges ||0.50% (inclusive of Appraisal charges) |
|Other Terms & Conditions || |
- Interest to be serviced monthly.
- At the time of renewal Drawing Power shall be fixed based on the Prevailing Gold Rates, as notified by the bank.
- The facility shall be availed only by the owners of gold jewellery.
- No exchange of Jewellery/ies is / are permitted.
- Once an overdraft account becomes irregular or overdue, all the provisions applicable to jewel Loans (Recovery by auction etc.,) shall be applicable.