Loan Against Soverign Gold Bonds

For business/personal purposes other than for speculative purposes or purposes prohibited by RBI/Loan policy.

Overdraft & Term Loan

The loan amount shall be fixed based on the price of gold per gram fixed by Credit Department, Head Office on daily basis.

The price will be reckoned on the simple average of 30 days as applicable to 24-carat gold or the prevailing market rate whichever is less.

Margin : 25%

Repayment :Term loan – Maximum of 60 months (Equated Monthly installments).

Overdraft :2 years (Renewable)

Note :Period of loan should not exceed beyond the due date for redemption of Bond.

Security

On pledge of SGBs.

Noting of lien with e-Kuber portal should be done through our RTGS cell.

Branches should make disbursement only after getting lien marking confirmation from RTGS cell.

Interest : Click here to know MCLR based interest rates.

Fees & Charges

Upto Rs.25000/- :- NIL

Above Rs.25,000/- :- Rs.150/- for each loan (To be collected at the time of closure of loan)

Loan Against Sovereign Gold Bonds