Gold Loan

Nature of Loan - GOLD LOANS TO INDIVIDUAL
Rate of Interest - 8.00%
Instalment/ Period - 1 Year
Details (Purpose) - Domestic Max. Rs.20.00 lakhs

Bank's existing customers can avail the loan up to Rs.20 lacs by pledge of gold ornaments. It requires minimum paper work and has low interest rate and less time taken. The interest on this product is calculating on reducing balancing method . There is no capitalisation of interest which minimises the Interest burden