Nagrik Gold Loan

Source : NSBGwalior    Date : 11-Jun-2019
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(A) Short-Term Gold Loan-
70% loan to the purity of Jewellery - at the current rate fixed by the bank on the net 10 grams of gold or 70 percent of the current market value whichever is less.
• Loan period is 12 months. There after onetime payment, no monthly installment.
• Loan amount limit up to Rs 2 lakhs immediately available.
• Daily loan disbursement available.
• Calculation of interest on reducing balance.
 
(B) Medium-Term Gold Loan -
• 70% loan to the purity of Jewellery - at the current rate fixed by the bank on
the net 10 grams of gold or 70 percent of the current market value whichever
is less.
• Loan amount limit up to Rs. 5 lakhs immediately available.
• Daily loan disbursements available.
• Duration maximum 60 months. Repayment of loan in monthly installments
• Calculation of interest on reducing balance.
 
(C) Overdraft Facility (for business) On Gold Jewellery-
• 70% loan to the purity of Jewellery - at the current rate fixed by the bank on
the net 10 grams of gold or 70 percent of the current market value whichever
is less.
• Loan amount limit up to a maximum of Rs. 10 lakhs.
• Daily loan disbursements available.
• Duration of the OD facility will be1 year. The facility will have to be renewed after 01 year.
• No monthly installment for loan repayment. Only the interest will have to be paid monthly.
• Calculation of interest on reducing balance
• Interest Rate: Click here.