MSME Gold Loan

Purpose

To cater to the credit needs for MSME Borrowers for meeting business requirements /urgent needs or repayment of outside debt / liability availed for business purpose.
Purpose of loan will have to be specified along with an undertaking that loan will not be used for any speculative purposes.

Type of Facility: Term Loan

Features & Benefits

Easy and hassle free loan process
Gold loans will be granted only to individuals and proprietary concerns engaged in manufacturing / trading/ services sectors.
Loans will be granted after getting the jewels duly appraised by the jewel appraiser engaged by the bank.
22 carat Gold’s are accepted as security.
Quick Sanction.
Minimum Processing fees.
Lowest rate of interest.
Maximum Loan repayment up to 36 Months
Maximum Loan amount up to 20.00 Lakhs.

Eligibility

All individuals and proprietary concerns engaged in manufacturing / trading/ services sectors. Desirous of availing Gold Loan against Jewellery / ornaments.

Limit

65% / 70% of market value of the net weight of Gold ornaments excluding stones attached to ornaments / Jewels to be pledge subject to maximum Rs.20.00 Lakhs*.

Repayment

For Bullet Repayment: The entire loan amount along with interest shall be repaid within 12 months from the date of sanction.
EMI (Equated Monthly Instalment) for period of maximum 36 months.