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Loan against Sovereign Gold Bond

  • 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 :

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)