Karnataka Bank offers three gold loan schemes, Agri Gold Loan, General Gold Loan, and KBL Gold en CASH-OD to meet your various financial needs. The loans are offered at attractive interest rates and come comes with a flexible repayment tenure. You can apply for these schemes by visiting the nearest Karnataka Bank branch.
The interest on gold loan is
The period of the loan ranges between 6 months and up to 12 months.
The maximum loan amount that is offered as gold loan is Rs.25 lakh per borrower.
Hypothecation of assets or crops is required as primary security. Collateral security is the gold ornaments that have been pledged with the Bank for the loan amount.
All gold ornaments or jewellery are accepted, especially minted gold coins that are sold by Banks, but this should not exceed 50 grams per borrower.
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The repayment of the gold loan principal amount should be made on or before the maturity date of the loan. Interest is to be paid out by the due date/ yearly.
In order to avail a gold loan, the applicants should either be HUFs (Hindu Undivided Families), Corporates or Farmers. Farmers can apply for a gold loan either individually or jointly.
Karnataka Gold Loan
You can avail a gold loan from Karnataka Bank to meet your immediate financial requirements.
|BL Gold Loan schemes||Interest rates|
|KBL-Agri Gold Loan||8.19% p.a.|
|General Gold Loan||
|KBL Gold en-Cash OD||8.74% p.a.|
The maximum period of the loan is 12 months.
This loan lets you get finance against security of gold ornaments for agriculture purpose.
Under Agri Subvention, the maximum loan amount you can borrow is Rs.3 lakh. It needs to be mentioned here that the loan can be borrowed from only rural and semi-urban branches of the bank.
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