Loan Schemes


Advance against Gold Ornaments

  1. The borrower should be an ordinary or nominal member of the Bank and should have an account with the Bank
  2. The gold ornaments will be valued by the Approved Appraiser of the Bank at the prevailing rate. The Appraiser’s and all other incidental charges to be borne by the borrower
  3. Advance against gold ornaments will be allowed at maximum 70% of the value or at such other rates fixed from time to time by the Bank
  4. Prevailing rate of interest will be charged at the time of making any advance, which is subject to change from time to time at Bank’s discretion
  5. Normally the advance will be sanctioned for a period of one year, repayable in monthly/quarterly installments along with accrued interest. Longer period of repayment upto 2 years may be allowed in deserving cases
  6. In case the advance is not paid when demanded, the concerned ornaments and any other assets in possession of the Bank shall be sold for the recovery of the dues and the shortfall, if any, shall be recovered by any other means from the borrower