Saraswat Bank Gold Loan | Interest Rates | Information
Saraswat Bank offers loan against gold at lowest interest rates. Maximum loan amount upto Rs.50 lakh & 36 months repayment period.
Eligibility – Any individual who is the true owner of the ornaments
Limit of loan
- Maximum loan / OD up to Rs. 50 lakh
- For Bullet repayment – 2 lakh
Basis of Advance – 75% of valuation of gold ornaments or Rs. 2000/- per gm whichever is less
Rate of Interest
- PLR- 2= 12.25% p.a. ( floating)
- Present PLR : 14.25%p.a.
Processing fees – Nil
Other charges
- Custody charges of Rs. 300/- per quarter or 0.50% of the loan availed whichever is higher, in case the delivery of ornaments is not taken within one month from the closure of loan account.
- Valuation charges at actuals
Documents Required for Gold Loan:
- Prescribed Loan application form
- Photo identity and residence proof of applicant
