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.