To be operated as an overdraft account against pledge of 22 carrot gold ornaments. Lending against gold / silver bullion is prohibited. There is provision for release of the ornaments & re-deposit of the ornaments without any restrictions.

Special features of the scheme

• Safety of the ornaments – Under custody of the Bank.
• Liquidity of the gold is ensured – by sanctioning an overdrafts under pledge of ornaments.
• Availability of the ornaments for use at any time – there is provision for release of the ornaments & re-deposit of the ornaments without any restrictions.

Target group : Individuals, Partnership & Proprietary Firms.

Type of facility : Overdraft against pledge of 22 carrot gold ornaments

Loan limits : Minimum Rs.0.25 lac , Maximum Rs.100 lacs

Security : Pledge of 22 ct Gold Ornaments

Rate of Interest : Click here to view the latest Rate of Interest  

Rate per gram : as fixed by H.O from time to time

Processing fee : 0.20% on each renewal / enhancement

Penal interest : 2 % p.a

Period of sanction : 12 months; Can be renewed after paying interest.

Only 22 ct ornaments should be accepted for pledge . Borrower can operate this account as their personal overdraft.

The scheme details are furnished in brief only. For more details please contact any of the branches nearest to you . Click here for Branch Network