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10th January 2016, 08:31 AM
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Join Date: May 2012
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.


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