#1
21st November 2016, 09:57 AM
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Gold Coins From Oriental Bank Of Commerce
I want to know the loan against Gold Coin from Oriental Bank Of Commerce so can you provide me the details of it?
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#2
21st November 2016, 10:44 AM
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Re: Gold Coins From Oriental Bank Of Commerce
Oriental Bank Of Commerce provide Oriental Loan Against Gold Ornaments Scheme. Oriental Loan Against Gold Ornaments Scheme Purpose All type of agriculture / allied activity, Business enterprises, any other activity taken up by the applicant for self employment, Personal consumption needs, non speculative purpose. Loan Limit- For non-agriculture purpose : Max- Rs. 50.00 Lacs per borrower For agriculture purpose : Max- Rs. 10.00 Lacs per borrower Eligibility- All individual / proprietors borrowers Type of facility For non-agriculture purpose a) Demand Loan b) Overdraft For agriculture purpose a) Demand Loan b) Overdraft c) Term Loan Assessment of Loan limit- 70% of rate of 22 Carat gold jewellery or 70% of value appraised by Appraiser, whichever is less Security Pledge of gold ornament, which has purity between 24 carat to 22 carats only/ pledge of Gold coins specially minted & sold by the bank having per coin weight upto 20 gms. The aggregate weight of Gold coins shall be restricted upto 50 gms per customer Margin- For Non-Agricultural Purposes: 30% For Agricultural Purposes : For Demand Loan/ OD: 25% against value of gold ornaments offered as security as assessed / appraised by the approved valuer. For Term Loan: 50% Penal Interest a) Upto Rs. 0.25 lacs - NIL b) Above Rs. 0.25 lacs & Upto Rs. 2.00 Lacs - 1% b) Above Rs.2.00 lacs - 2% c) No prepayment penalty The penal interest shall be charged on overdue amount and for the period of irregularity. Customer service: 1800 180 1235 |