Overdraft against the Pledge of Gold Ornaments

Salient Features This scheme provides financial assistance for business / profession /other needs.


Eligibility
  • Applicant must be Regular/Associate/ Nominal Member having satisfactory income to repay the Loan.
  • Possession of Savings Bank Account which is KYC compliant
Quantum of Loan  Up to Rs. 10 lakh for members.
( Note : Rs.3000 per gram. )
Tenure
  • One year
Processing fee 1.10% of loan amount.
Rate of interest As prescribed by the Board
Repayment mode Loan availed by the members is to be repaid after one year in one lump sum along with interest. However, there is no objection to repay the loan by part payments. Loan of Rupees above one lakh is to be repaid in monthly installment with interest and closed within 12months.
OD Limit The limit should be closed or renewed on its due date after one year.
Documents required.
  • Loan Application cum Document
Release of Loan Amt
  • Pledge of Gold jewellary/coins
  • Loan amt will be credited to new OD account.

© SRI BANASHANKARI MAHILA CO-OPERATIVE BANK LTD

Go to top