Bank of Maharashtra Gold loan – Loan against Gold Ornaments
Bank of Maharashtra Gold Loan – Details on Interest Rates, Processing Fees, Eligibility, Loan amount, Documents. Calculate EMI with Bank of Maharashtra gold loan emi calculator and eligibility online.
Information on Mahabank Gold Loan
Particulars | Revised Scheme guidelines |
Name of the scheme | Mahabank Gold Loan scheme |
Purpose of loan | To cater to the requirements of meeting other personal expenses, whatsoever which include personal expenditure of varied needs like marriage, higher education, medical emergencies, business travel etc. |
Type of credit facilities | For General Purpose only : Term loan / Cash Credit subject to Maximum Repayment tenor of 12 months depending on need of individual. |
Eligibility | All individuals desirous of availing Gold Loan against gold jewellery /ornaments. |
Age Limit |
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Quantum of Loan |
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Eligible loan amount | Rs. 2000/- per gram of 22 carat gold ornament Or 75% of the market value of the net weight of the Gold ornaments excluding stones attached to ornaments/ jewellery to be pledged, whichever is less.
Note : Scale of finance will be reviewed from time to time |
Security for the loan | Pledge of gold jewellery/ ornaments. Bank shall not grant any advance against Bullion / Primary gold. |
Repayment of loan | Term Loan Facility : Principal: The maximum repayment period is 12 Months.
The repayment can also be fixed as bullet payment. Interest: Interest should be charged on monthly basis and should be serviced as and when applied. Cash credit Facility : Annual Review subject to entire amount to be repaid once in year. Interest : Interest should be charged on monthly basis and should be serviced as and when applied. |
Rate of interest (Floating) | Click here to view the Interest Rate |
Processing charges | Rs.500/- per application |
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