TYPE OF FACILITY

Demand loan with tenor of 12 months.

LTV

As per RBI norms ie., LTV upto 90% to be maintained throughout the tenure of loan for all maturities. The borrower will be called upon to reduce the loan outstanding to maintain LTV always upto 90% or above.

QUANTUM OF FINANCE/ LOAN LIMIT

Maximum of 75% of the market value of gold or 75% of the value of the gold ornaments as appraised by a bank approved appraiser whichever is lower(on gross weight) subject to scale of finance fixed from time to time.

PAYMENT OF INTEREST

Interest shall be charged at monthly rests and will become due for payment at the time of closure/ contracted due date.

SECURITY

Pledge of gold ornaments with purity between 22 carats to 24 carats only.

ADDRESS PROOF

• Aadhaar card
• Passport
• Voter’s Identity card
• Driving license
• Telephone bill (not older than two months –installation should be at least before 6 months)
• Bank account statement
• Letter from a recognized public authority or public servant (not below the rank of the Tahsildar) verifying the identity and residence of the customer to the satisfaction of Bank
• Electricity bill (latest) Ration card
• Letter from employer (subject to satisfaction of the Bank) ID issued by Postal Authorities
• Job card issued by NREGA duly signed by an officer of the State Government
• Letter issued by the Unique Identification Authority of India containing details of name, address & Aadhaar number
• Consumer Pass Book issued by Gas Agency
• A rent agreement indicating the address of the customer duly registered with State Government or similar registration authority

ID PROOF

• Aadhaar card
• Passport
• PAN card
• Voter’s Identity Card
• Driving license
• Ration Card
• Identity card /confirmation from the employer/other bank (subject to branch’s satisfaction)
• ID card issued by recognized Educational Institutions ID issued by Postal Authorities
• Letter from a recognized public authority or public servant (not below the rank of the Tahsildar) verifying the identity and residence of the customer to the satisfaction of Bank
• Job card issued by NREGA duly signed by an officer of the State Government
• Letter issued by the Unique Identification Authority of India containing details of name, address & Aadhaar number

DOCUMENTS TO BE EXECUTED

• Demand Promissory Note