Sri Ganapathi Urban Co-Operative Bank Ltd. offers gold loans to meet various financial needs. The loans are sanctioned against the pledge of gold ornaments. The bank provides multiple options under its gold loan scheme.
Eligibility and Purpose
- Eligibility: The gold loan is available for members of the bank.
- Purpose: Gold loans are an easy way to get liquidity for various purposes, including business expansion, education expenses, medical emergencies, and other personal needs.
Loan Details
Types of Gold Loans: The bank offers a few different gold loan products, which may include:
- Gold Loan (Regular): A standard gold loan.
- Gold EMI Loan: A loan with an EMI (Equated Monthly Installment) repayment option.
- Gold OD (Overdraft) Loan: A loan that functions like a credit line, where you can withdraw and repay funds as needed, up to the sanctioned limit.
Interest Rates: Interest rates vary based on the type of gold loan. The bank's current interest rates are as follows:
- Gold Loan (Regular): 9.50% p.a.
- Gold EMI Loan: 9.50% p.a.
- Gold OD Loan: 10.00% p.a.
Maximum Loan Amount: The maximum amount for a gold loan is up to ₹25 lakhs.
Loan Tenure: The loan duration is a maximum of 12 months.
Key Features
- Simple Process: The gold loan process is designed to be quick and easy, with minimal documentation required.
- Safety of Jewels: The bank ensures the complete safety and security of the pledged gold ornaments.
- Flexible Repayment: The bank offers different repayment options, including regular repayment at the end of the tenure for some schemes and EMI options for others.
For the most current and specific details, it is always best to directly contact a branch of Sri Ganapathi Urban Co-Operative Bank Ltd.
