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Image  SCHEME FOR LOAN AGAINST SOVEREIGN GOLD BONDS


Eligibility

  • A person above 21 years of age, resident of India, being an individual in his capacity as individual or on behalf of minor child, or jointly with another individual
  • Trust, HUF, Charitable Institutions and University

Nature of Facility

  • Demand loan for 12 months
  • Overdraft for 24 months

Quantum of Finance

  • Minimum – Rs.50000/-
  • Maximum – Rs.25.00 lakhs

Margin

  • Individuals – 30%
  • Other than individuals-40%

Security

  • Pledge/Lien on Sovereign Gold bond held in Dematerialized form with any Depository Participants.
  • Loan against Sovereign Gold bond held in physical form is NOT permitted

Repayment Period

  • Demand Loan: 12 months
  • Overdraft: 24 months- subject to annual review

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Security documents

  • Appropriate DPN note, Letter of continuity, Letter of general lien and setoff , Agreement for pledge of Bonds and any other document stipulated in sanction.

Rate of Interest - Please click here to know our latest interest rates

Conditions apply.

For more details please contact our nearest branch