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Loan on Gold Ornaments

Eligibility Member/Associate Member of the Bank and also Nominal Members by payment of nominal membership fee of Rs.100/-.
Area of Operation Bangalore Urban , Bangalore Rural District and mysore (whether to specify area which will be covered - MAP)
Security Gold Ornaments
Maximum limit Rs.2.00 lakhs
Margin 20% of Value as assessed by Bank’s Valuer
Maximum Repayment Period 12 Months
Release of loan The proceeds of the loan amount shall be paid to the party’s SB/CA.
Interest rate and interest application frequency 11.00%
The Rate of Interest will be charged and compounded at monthly intervals and interest so charged will be capitalised. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors.
Service Charges Minimum of Rs.50/-
Rs.5/- per 1000/- + 1% of loan amount as insurance 1% insurance charges after every one year