Gold Loan From Oriental Bank Of Commerce

I recently opened an account in the Oriental Bank of Commerce (OBC) and want to take the gold loan from this bank. Will you provide me all details about scheme of Gold Loan From Oriental Bank Of Commerce also tell details about amount, Margin and tell about processing fees?

[Rajkumar Agarwal]

Oriental Bank of Commerce (OBC) is an India-based bank established in Lahore, is one of the public sector banks in India.

Gold Loan Scheme

Scheme - Loan against Gold/Jewellery

Purpose :

All type of agriculture / allied activity, for Business enterprises, any other activity taken up by the applicant for self employment and Personal consumption needs except for speculative purposes.

Eligibility:

The scheme shall be open for all the individual / proprietors borrowers irrespective of Gender, Cast & Creed.

Amount of Loan
Up to Rs. 10 lacs per borrower.

Nature of Facility
Demand loan/ Overdraft depending upon the purpose and requirement of the borrower

Margin

30% against value of gold jewellery offered as security as assessed / appraised by the approved valuer.

Process Fee:
Process fee @ 0.50% per lac.

Documentation charges:

1) Loan for general purpose
a) Up to limit of Rs.2.00 lacs- Rs.250
b) Above limit of Rs.2 lacs– Rs.500
2) Loan for agricultural purpose
c) Up to limit of Rs.2.00 lacs- NIL
d) Above limit of Rs.2 lacs– Rs.500

Security
Pledge of gold ornament, which has purity between 24 carat to 22 carats

Repayment

Demand loan is to be liquidated within a maximum period of 12 months.
Overdraft facility shall be reviewed / renewed every year

Contact:

Corporate Office
Plot No. 5, Institutional Area
Sector-32
Gurgaon – 122001

Telephone Nos.:

PBX board/ receiption numbers : 0124-4126200 and 0124-4126300
Toll Free Customer Care No. : 1800-180-1235
Toll Customer Care No. : 0120-2580001