Purpose

• For meeting business requirements.
• Repayment of outside debt / liability availed for business purpose.

Eligibility Entities

All Individuals / Proprietary concern engaged in Manufacturing/trading/ services sectors   owning gold ornaments/ Jewellery/ Coins, either singly or jointly with spouse. UDYAM Registration number (URN) is mandatory.

Quantum of Loan

Minimum: ₹ 20,000/- (Twenty thousand Only)

Maximum: ₹ 100.00 Lakh (Hundred Lakh Only)

Margin

Loan Tenure

Term Loan (EMI) :  Maximum 12 Months 

Bullet Repayment : Maximum 12 Months

Repayment Mode

Term Loan:

1. EMI (Equated Monthly Instalment) for period of maximum 12 months.
2. Bullet Repayment: Repayable at the end of the term (up to 12 months) along with interest accrued. Repayment of Interest & Principal at the end of term. Interest will be charged to the account at monthly rests but will become due for payment along with principal only at maturity.

Interest Rate

Applicable ROI: RLLR + 0.40% i.e. 8.70% p.a. at present.

Present RLLR is 8.30 % p.a.

RLLR shall be as stipulated by bank from time to time.

Security

Pledge of gold jewellery / ornaments.

Pre-payment charges

NIL