An Advance Against Gold Ornaments (commonly known as a Gold Loan) is a secured lending arrangement where a borrower provides their gold jewelry to the bank as collateral. The bank assesses the purity and weight of the gold and lends a specific percentage of its market value to the borrower. The borrower retains ownership of the gold, while the bank holds physical possession of the ornaments until the loan principal and interest are fully repaid.
YOUR GOLDEN INVESTMENT WAS RIGHT DECISION:
- To overcome immediate need of small people bank has a Gold loan Scheme
- Immediate Loan Sanction Facility
- Rate of Interest is 8.25 %
- Bullet Payment Facility for Advance up to Rs. 1,75,000/-
- Installment Facility available for advance where amount of loan is more than 1,75,000/-
- Valuation within Bank Premises
- Gold ornaments will be preserved in safe under supervision of Bank official.
- For installment repayment facility margine will be 25%
- For bullet payment facility margine will be 35%
MINIMUM REQUIREMENTS:
- KYC Docs are Mandatory
- Applicant has to be GNSB Shareholder (If not then they may subscribe for the same)
- Up to Rs. 1,00,000/- Applicant may apply for Nominal Shareholder
- More than 1,00,000/- Applicant should be Regular member
