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Cito Nidhi Dhanavruddhi Deposit Scheme - CITO 400.    |   Cito Nidhi Dhanavriddhi Deposit Scheme - CITO 400 Days FD. Earn high annualized yield of 14.45%* on Your Deposit.    |   Welcome to Cito Nidhi Limited, a fast growing Quasi-Banking Mutual Benefit Company    |   

Gold Purchase Loan

Gold is always precious metal and the best asset to acquire always. Cito Nidhi is offering a new and flagship scheme “Gold on EMI”. Select your favorite collection of Jewellery and Buy the Gold Ornaments. We offer easy EMI options on buying Gold Ornaments that pleases your heart and not your wallet.

Rs.25,000 - 3 Lac

Rs.25,000 - 3 Lac

Loan Amount

12/18/24 Months

12/18/24 Months

Period

PF - 2% + GST

PF - 2% + GST

Charges and Fees

Features and Benefits

  • Short-Term loan with easy installments facility
  • The best option to Buy desired Gold ornaments
  • Immediate Payment to Vendor upon invoice acceptance
  • Simple and Easy Documentation
  • Premature Closure allowed, subject to applicable norms
  • Loan period available from 12 months to 24 months

Terms and Conditions

Loan Amount Minimum Rs 25,000/-, Maximum Rs 3.00 Lakhs
Repayment Period 12 Months / 18 Months / 24 Months
Down Payment 25% on original Invoice Value (Without GST/ Tax)
Security Pledge of Gold Ornaments and Jewellery purchased out of Finance
Rate of Interest For 12 Months – 22.00%, For 18 Months – 23.00%, For 24 Months – 24% IRR
Charges PF 2.00% + GST (Min. Rs 300/-, Max Rs 3,000/-) and Stamp duty as per applicable Law of state
Other Terms & Conditions
  • EMI should be served on monthly basis. For delayed EMI payment Rs 250/- bounce Charges will be collected. 2% Penal Interest will be collected on EMI due amount
  • Non-payment of EMIs for continuous 3 months, auction notice will be sent. If no response received, Gold ornaments will be auctioned as per Bank’s product policy
  • Pre-Closure charges of minimum 2%, maximum 4% applicable based on Loan period
  • It’s 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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