Target Group:

• Farmers, Agriculturist & other clients

Eligibility

• Farmers/ Agriculturist other customers with satisfactory dealings (observing KYC Norms).
• Other persons with proper introduction (in compliance with KYC norms)

Age

• Minimum 18 years
• Maximum 70 years

Purpose

• For Agriculture & Allied Activities
• For consumption/ domestic /medical purposes

Type of facility

• Term Loan
• Agriculturist may be given cash credit facility based on scale of finance/ cropping pattern.

Margin:

25% of the valuation

Click here for Rate of interest

Click here for Processing Fees, Prepayment Penalty, Documentation Charges, Mortgage and other charges

Valuation

• By approved shroff /jewel appraiser approved for valuation of jewellery for the purpose of Wealth Tax Assessment.

Repayment Period

• Term Loan – Maximum 36 Month
• Cash Credit – On Demand

Security

• Pledge of the gold ornaments

Loan Amount

• Minimum loan amount: Rs 5,,000/-
• Maximum loan amount: Rs.5.00 Lac
• The value of the gold is calculated on the basis of the market price.
• The maximum amount of loan available per gram of pure gold is Rs.1500/- as decided in comparison with the prevailing market rate.
• The available pure gold in the gold Jewellery tendered is determined on the basis of quality of gold that is measured in terms of Karat. The 100% pure gold is 24 Karat.

Repayment term

• Agriculturist: Repayment will be tied up with the harvesting period
• Others: May exercise any of the following options -
  1. Repayment in 36 EMI
  2. Repayment in 12 quarterly installment
  3. Short term loan for 1 year with quarterly servicing of interest and bullet payment of remaining due with interest on one year.

Delivery Channel

• All rural/semi urban branches & Identified urban/metropolitan branches.