Gold Loan

Gold Loan

Gold Loan is provided for the purpose of growth of a firm or company. This type of loan can be considered personal use, family fuction purpose, purchase of household or industrial goods. The loan can be considered against the Gold ornaments. Our Bank considers a loan for up to 70% of the value of Gold Ornaments, Net weight valued by Bank's approved values.

Requirements

• Member of the Belagavi Shree Basaveshwar Co-Operative Bank Ltd.

• Holding either single account or joint account with other family members’ viz., father, mother, wife, son or daughter with regular source of income.

• Individuals who may be employed/self-employed in business having regular income.

• Permanent employee of Central/State/Defense/Police Force/Public or Joint Sector Undertaking/reputed firms/established Educational Inst/Professional/Businessmen having regular income.

• SMS Alerts for Transactions.

Purpose of Loan

• For purchase personal use / purchase of household items / Industrial items.
• To meet personal expenses or purchase of consumer durables.
• Any other reason acceptable to Bank.

Budget of Loan

• Depends on net valuation of Gold articles / repayment capacity.
• Priority sector -- Need based /Project based.

Budget of Finance

• 70% of Cost of value fixed by the bank from time to time.

Repayment Details

• By EMI
• By Installment

Other Features

• No prepayment penalty
• Flexible repayment
• Interest on a daily reducing balance basis.

Officially Valid Documents

Two latest passport size photographs and any one of the officially valid documents as Identity and Address proof from the list below,

• Aadhar Card
• PAN Card
• Voter's Identity Card
• Driving License
• Passport
• Ration Card
• Electricity Bill

General Rules

• Bank reserves the right to alter, revise and cancel the rules from time to time.

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