How much gold loan amount can be availed at a time
How much gold loan amount can be availed at a time?
Minimum Loan amount: Rs. 20,000/-
Maximum Loan Amount: Rs. 150 Lakhs and maximum 5 loans, can be availed by a single customer/Family/Group at any point of time including loan under consideration, together not exceeding maximum loan amount as specified above
Please note:
1. The loan amount depends on the valuation of Gold ornaments examined by the valuer.
2. Loan eligibility for the customer is 67 to 75% of valuation amount depending on repayment module, for e.g. Monthly Interest in EMI/Vanilla is 75 % of the value of Gold, where as it varies from 67 % to 72 % based on quarterly /half yearly interest payment.
3. Value of Gold is arrived by the bank as per RBI norms with factoring price fluctuations as per Banks Risk Model.
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