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Gold Loan

Make your idle Gold into Cash with CITO’s Loans against Gold Ornaments and approved Gold Coins. Its one of the easiest and fastest means of finance that can be availed from our branches in less time.

We offer Gold Loans in the form of Overdraft and Short-Term Loans for Personal Non-Agri / Agri Purpose

Rs.10000 - 5 Lac

Rs.10000 - 5 Lac

Loan Amount

1 Year

1 Year

Period

PF - 1% + GST

PF - 1% + GST

Charges and Fees

Features and Benefits

  • Overdraft facility, Short-Term Loan, Bullet repayment and or EMI facility
  • Loan can be Personal purpose or Agriculture purpose or any other need
  • Simple and easy documentation and Quick Disbursal of Loan
  • High Security with Safe Vault room and CCTV coverage for 24 hours, 365 Days
  • Pre-Mature Closure is allowed, subject to applicable norms.
  • Loan Period available from 3 Months to 10 Months for OD / 12 Months for TL

Terms and Conditions

Loan Amount Minimum 10,000/-, Maximum 500,000/-
Repayment Period 6 Months/ 10 Months for Overdraft Facility & 12 Months for Term Loan EMI facility. The Limit can be renewed for a further period of 10/12 months, subject to the discretion of sanctioning authority
Security Pledge of Gold Jewellery with Minimum purity of 22 Carats and Gold Coins sold by banks.
Rate of Interest 1.66% pm to 2.16% pm based on per gram rate and Loan value
Charges Processing Fee -0.50%+GST (Min Rs 200/-) and Stamp Duty as per applicable Law of State Appraiser Charges – 0.50% of Loan value subject to Minimum Rs 200/- and Maximum Rs 1,000/-
Processing Charges PF - 1% + GST Appraiser Fee as applicable Stamp Duty as applicable.
Other Terms & Conditions
  • Interest and/ or EMI should be served on monthly basis
  • Gold Ornaments should be owned and Ownership declaration needs to be submitted
  • Exchange of  Gold Ornaments, partial withdrawal of Gold Ornaments is NOT permitted
  • Pre-Closure charges of minimum 2%, maximum 4% applicable based on Loan Period
  • Penal Interest of 2% and EMI bounce charges of 5% of EMI would be applicable as per Term Loan policy
  • Once the OD/ Loan account becomes overdue or irregular all the recovery provisions (Recovery by auction of Gold Ornaments) shall be applicable
  • Its mandatory to become as a member of the CITO Nidhi Ltd, and Company will issue minimum 10 shares of Rs.10/- each with total value of Rs.100/- towards share capital
  • Interest will be calculated at the rate applicable for the period of the Loan has actually remained with the Bank. The rates are subject to change from time to time and same will be notified. 
  • All Guidelines applicable with regard to Sanction, Disbursement and Repayment of Loan will apply to the Loan Policy acceptance under this scheme.
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