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Old 12th January 2018, 01:59 PM
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Join Date: Aug 2012
Posts: 40,711
Default Re: Gold Loan In South Indian Bank

Dont worry I will provide you details of South Indian Bank, Gold Power Loan so that you can go through it easily.

Target Customers
1. Individuals
2. Proprietorship concern
3. Hindu Undivided Family
4. Partnership Firm
5. Pvt. Ltd / Public Ltd. Company

Special Features
1. Safety of the ornaments Under custody of the Bank.
2. Liquidity of the gold is ensured by sanctioning an overdraft against pledge of ornaments.
3. Availability of the ornaments for use at any time there is provision for release of the ornaments & re-deposit of the ornaments without any restrictions.
4. For Re-pledge borrowers: A declaration by the original pawner stating the actual ownership and No-Objection for Re-pledge the Gold by the pawnee pledges the same with any Bank should be obtained.
5. Borrower can operate this account as their personal overdraft.

Quantum of Finance
1. Minimum - Rs. 0.25 Lacs
2. Maximum - Rs. 1000.00 Lacs

Processing Fee
0.10% of the limit sanctioned.

Penal Interest
2% p.a. for the defaulted amount for the defaulted period

Tenor of Loan
36 months.
(For continuing the facility thereafter, Limit can be renewed. Limit is subject to annual review)

South Indian Bank
T.B Road, Mission Quarters, Thrissur 680 001,Kerala, India

+91-487-2420020, 2420058, 2420113
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