<> CENT - BUSINESS GOLD LOAN | Central Bank of India

CENT - BUSINESS GOLD LOAN

Eligibility :

  1. Existing as well as New Customer.
  2. Individual (18 years to 60 years), Proprietorship and Partnership, engaged in Business activities.

Purpose:

For business needs only.

Quantum of Finance :

  1. Minimum: Rs.10,000/-
  2. Maximum: Rs.20,00,000/-

Margin :

20%.

Rate of Interest :

  1. Rs.10000 and up to Rs.10 lac: MCLR + 0.50%
  2. Above Rs.10 lac and up to Rs.20 lac: MCLR + 1.00%

Terms of Repayment :

  1. Repayment in case of Term Loan : 12-36 Months.
  2. Repayment in case of Overdraft or Cash Credit : On demand and renewable on yearly basis.

Security :

Primary Security :

  • Pledge of gold coins (specially minted and sold by Banks)/Gold ornaments and Jewellery of 22 as well as 24 Karats purity
  • The Gold ornaments should be hall marked.

Processing Charges :

  1. Nil up-to Rs.5.00 Lac.
  2. Loan Rs.5.00Lac to Rs.20Lac: Rs.250/- per lac or part thereof.