Gold Loan

Type of Loan

Demand Loan & Overdraft-OD

Objective/Purpose

Personal & Consumer needs, Education, Housing, Property Purchase etc.

Agriculture & Allied Activities including Crop Production, Investment activities, Land Development, Estate, Plantation etc.

MSME- Micro and Small Business, , Professional and Self Employed, individuals, Proprietorship etc.

Eligibility

1. Loan against security of gold ornaments can be made to all Borrowers who would avail such loan for Agriculture & Allied Activities, Activities related to Micro & Small Enterprises, Retail Trade, Personal and Consumer Needs Housing, Education etc.
2. Necessary declaration from the eligible borrowers will be required to be obtained specifying the purpose of such loan at the time of sanction.

Margin

1. For Agriculture Schemes under UCO Krishi Kanakadhara Scheme

2. Margin

   15% for tenor up to 6 -12 months 25% up to 24 months

Amount of loan to be sanctioned per Gram of Gold

Offering lowest Margin for Gold Value thereby providing maximum loan amount for your Gold.

Assesse/Testing of Gold Ornaments

1. All gold ornaments before being accepted as security should be apprised by an experienced Gold Smith for its weight, purity and fineness.

Rate of Interest

Documentation Charges & Pre-payment Charges – NIL , GST will be applicable Loan above Rs 20.00 Lakhs under individual /family ,across all Gold Loan Schemes together , Reappraisals to be effected before disbursment.