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Rural

Purpose

To meet credit needs for Agriculture/MSME/OPS/Retail/Consumption purposes.

Eligibility

Individual/Proprietorship Firm, who is lawful owner of gold jewellery/ornaments/coins. Finance to proprietorship firm for business purposes only.

Quantum of Loan

Minimum- No minimum limit
Maximum- Rs 50 Lakh

Security:

Pledge of gold jewellery/ornaments/coins belonging to the borrower. Coins maximum 50 gram

Margin

For Agricultural purposes: 15% to 35%; For Non-agricultural purposes: 25% to 35%; based upon the purity of gold and tenure of the loan.

Rate of Interest (w.e.f. 01.08.2021)

Activity Upto 12 months* Above 12 months upto 36 months*
Agriculture @7.25% p.a @7.55% p.a
Food & Agro @7.35% p.a @7.65% p.a
MSME/OPS @7.65% p.a @8.15% p.a
Consumption/Nonpriority @8.40% p.a @8.90% p.a

Processing Charges

Limit Processing Charges
Upto 1.00 lakh Nil
Upto 1.00 lakh to 5.00 lakh Rs.125/- per lakh; Max. Rs.250/-
Over 5.00 lakh Rs.125/- per lakh; Max. Rs.1000/-

Repayment

Principal repayment schedules may be fixed at monthly, quarterly, half-yearly, yearly instalments or bullet repayment depending on income generation and/or seasonality.

 

*For further details please contact to nearest branch