SME Gold Loan - Business

Target Group & Eligibility

Existing MSME Units (Proprietorship Firm only), both borrowing & non-borrowing units of our Bank, who want to avail loan against Gold Ornaments/ Jewellery.

• Unit/ Shop shall be with running activity
• Account should not be in NPA status

Purpose

To provide hassle free financial assistance to existing MSME units (Proprietorship Firm only) against Gold Ornaments/ Jewellery held in the name of Proprietor, for fund based requirements for general business purpose & augment working capital, acquiring machinery/ equipment/ tools for repairs, renovations etc.
Loans will not be granted against Gold Bar/Bullion.

• No financial documents required. Only self-declared projected turnover to be submitted
• Quick Sanction & Simple Documentation

Nature of Facilit

Overdraft (OD) / Demand Loan (DL)

Quantum of loan

• Minimum: > Rs. 1 lakh
• Maximum: Rs. 50 lakh

Subject to not exceeding advance value of Gold

Pricing (linked to EBLR)

EBR + 0.60% (Present effective rate 7.25%)

(EBR i.e. External Benchmark Rate is 6.65% w.e.f. 01.07.2020)

Repayment Period

Processing Fee

• Up to Rs. 10 lacs: Rs. 500 plus applicable taxes
• Above Rs. 10 lacs: Rs. 1000 plus applicable taxes

Pre-Payment Penalty