Gold Overdraft

Gold Overdraft

Fund your urgent business and personal needs with Gold Drop-line Over Draft facility up to INR 25 Lakhs

Key Features
Your Gold is your ticket to gaining quick finance

Sometimes, in spite of the best efforts, urgent financial needs may emerge, requiring your immediate attention and resolution. In such cases, cashing-in on instant liquidity, in the form of gold ornaments, is considered to be the best option. With Gold Loan, you receive the loan amount against the pledged of gold ornaments/ Jewellery. These gold ornaments/Jewellery remain with the bank for a fixed period, till the time the loan is fully repaid, post which they are returned to you.

Loan up to INR 25 Lakhs

Attractive Rate Of Interest

Minimal processing fees

Quick disbursal

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Other Features

  • Purpose:
    For any legitimate purpose, not speculative purpose

 

  • Margin:

    Total Gold Overdraft Exposure per borrower

    Margin % on Fair Value #

    ≤ ₹2.5 lakh

    25%

    > ₹2.5 lakh & ≤ ₹5 lakh

    30%

    > ₹5 lakh

    35%
    # the fair value arrived at through the prevailing Benchmark Rate (announced by the Bank from time to time) of the security to be pledged.

    Methodology adopted for determination of net weight of the gold content of the eligible collateral and the price used to value the gold content of the eligible collateral for determination of Loan To Value (LTV) ratio.

     

    Benchmark Rate in Rs

    Total Gold Advances exposure per borrower

    LTV to be Applied

    Net Wt. of Gold

    10000/- (At Present)

    ≤ Rs. 2.50 lacs

    25%

    10 gms

    > Rs. 2.50 lacs & ≤ Rs. 5.00 lacs

    30%

    10 gms

    > Rs. 5.00 lacs

    35%

    10 gms

     

    E.g. If Gold DOD requested limit is ₹ 2.50 Lakhs, then (Benchmark Rate) X LTV Ratio X Net Wt. of Gold = Eligible Gold Over Draft Limit, i.e. 10,000 X 75% X 10 gms.
    Hence, Eligible Gold Over Draft Limit = ₹ 75,000/-

 

  • Security:
    Pledge of gold ornaments/Jewellery


*Terms & conditions apply

FAQ

Gold Over Draft can be availed for funding immediate and urgent personal or business needs other than speculative in nature.

Margin:

Total Gold Overdraft Exposure per borrower

Margin % on Fair Value #

≤ ₹2.5 lakh

25%

> ₹2.5 lakh & ≤ ₹5 lakh

30%

> ₹5 lakh

35%

# the fair value arrived at through the prevailing Benchmark Rate (announced by the Bank from time to time) of the security to be pledged.

Maximum Tenure is upto 84 Months for Gold Drop-Line overdraft facility and Renewal of Gold Overdraft Facility within period of 12 months till maturity of loan, subject to detailed credit assessment, including assessment of borrower’s repayment capacity and permitted only within permissible LTV and loan is classified as standard

There is minimal processing fee charged on Gold Over Draft