Gold Loans
Eligibility
A’ Class and ‘C’ Class members are eligible for availing ‘Gold loan'
Security
The loan will be issued on the security of gold ornaments
Limit of Assistance
The maximum amount of a loan is fixed as Rs.500000/-
Disbursement
50% of the market value of gold ornaments will be disbursed as loan amount
Duration
The duration of the loan will be 30 days
Interest Rate
- Gold loan 1 month - 7.5%
- Gold loan 3 months- 8.5%
- Gold loan 6 months - 10.5%
- Gold loan (Agrl) - 7%
Unreleased Gold Ornaments
The unreleased gold ornaments will be auctioned if the borrower fails to repay and there is no response from the part of the borrower after getting registered notices to repay the loan
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