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Product Features |
| Nature of Finance |
RUNNING FINANCE |
Financing Limit |
Minimum Rs. 50,000 -
Maximum Rs. 7, 000, 000 |
| Age |
For Salaried Class:
Min 18 years and 60 Year at the time of maturity of loan
For Self Employed and Business Person:
Min 18 years and 65 Year at the time of maturity of loan |
| Duration |
01 year / 3 years |
| Mark up rate |
1 Year KIBOR + 3.5%
Special discount for female borrowers
1 Year KIBOR + 3.0% |
| Valuation Rate |
For One Year Financing Rs. 110,000
For Three Years Financing Rs. 100,000
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| Processing Fee |
Minimum Rs.2000/- or 0.2% of finance amount (Maximum up to Rs. 5,000/-) whichever is higher |
| Collateral / Security |
Gold Ornaments (measurement will be based on 24 karat Gold). Only net content of Gold. |
| Tenure |
Up to three years (with option of renewal) upon payment of up to date mark up and furnishing of request letter from borrower and clean CIB) |
| Income Requirement |
There is no minimum income requirement, however, financing will be allowed after assessing the repayment capacity of the borrower. |
| Repayment |
Markup Servicing on utilized amount on quarterly basis and final adjustment upon maturity |
| Insurance |
Free Insurance Coverage of net Gold ornaments |
| Shroff / Gold Smith Charges |
At Actual (Shroff charges will be paid by the borrower) |
| Documentation Charges |
At Actual rates |
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