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Central Bank

CENT – BUSINESS GOLD LOAN

Bank Central Bank of India
Scheme CENT – BUSINESS GOLD LOAN
Description For business needs only.
Eligibility 1.                Existing as well as New Customer.

2.                Individual (18 years to 60 years), Proprietorship and Partnership, engaged in Business activities.

 

Rate of Interest & Repayment 1.                 Rs.10000 and up to Rs.10 lac: MCLR + 0.50%

2.                 Above Rs.10 lac and up to Rs.20 lac: MCLR + 1.00%

Repayment:

1.      Repayment in case of Term Loan : 12-36 Months.

2.      Repayment in case of Overdraft or Cash Credit : On demand and renewable on yearly basis.

 

Collateral Primary Security :

·Pledge of gold coins (specially minted and sold by Banks)/Gold ornaments and Jewellery of 22 as well as 24 Karats purity

·The Gold ornaments should be hall marked.

 

Composite /loan Limit 1.      Minimum: Rs.10,000/-

2.      Maximum: Rs.20,00,000/-

 

Margin  
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