#1
10th January 2016, 08:31 AM
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Gold Loan Interest Rate in Corporation Bank
Hello, I want to take the gold loan of the Corporation Bank and I want to know the interest rates of the loan.
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#2
10th January 2016, 08:31 AM
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Re: Gold Loan Interest Rate in Corporation Bank
Hello, here I am providing you the details of the interest rates of the gold loan offered by the Corporation Bank as under: Rate of Interest: Linked to Base Rate which is 10.65% at present Loans up to 12 months: 10.60% Loans above 12 months and up to 24 months: 11.10% For Agriculturists, loans sanctioned to short-term crop production up to Rs. 3 lakhs during the current year and repayable with in 12 months, the rate of interest is: 7 % For Jewel Loans other than agriculture (CADL /CAOD): Up to Rs.2 lakhs: 11.60% Above Rs.2 lakhs: 12.60% Repayment: Demand Loan/Maximum 24 months Secured overdraft: Running account facility to be renewed / reviewed every year. Special Features Secured over draft account can be linked to the existing Debit Card of the account holder. Eligibility: Individuals pursuing activities like retail trade, small business, small manufacturing units, professionals, self-employed and agriculturists. Individuals having any source of income other than above like – Salaried Class, Pensioners etc. Nature of facility: Demand Loan and Secured Overdraft [running account] Security: Pledge of Gold Jewellery Rate: Per gram Rs.2000/- on 24 carat basis for loans with repayment period of 12 months, Rs.1900/- per gram [24 carat basis] for loans above 12 months repayment period. No processing charges for loans up to Rs.2.00 lakh. |