|Gold Loan Scheme|
|Name of the Scheme||Cosmo Gold Loan Scheme|
1) The applicant must be true owner of the gold ornaments to be pledged with the Bank.
2) The applicant must be local resident & must have a saving account with the branch.
3) If no saving account with us then, it will be opened first and KYC norms will have to be completed.
|Objective of the scheme||To provide advance for purchase of gold / gold ornaments.|
In the form of overdraft – Upto Rs.1.00 lacs
In the form of Term loan – Above Rs.1.00 lacs
|Security||Gold / gold ornaments + PDCs|
For Overdraft – Review within 12 months
For Term loan – 3 yrs. to 5 yrs.
|Process Charges||0.10% of loan amount|
|Agreement Charges||0.10 % of loan amount|
|Interest calculation||On daily reducing balance|
|Prepayment charges||No prepayment charges|
For Interest Rate Click Here.