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Gold Loan
Gold Loan

Life is filled with unexpected opportunities, and we believe you shouldn't let financial constraints hold you back. At Sri Raksh, we offer Gold Loans that optimize your investment in gold, providing you with an easy and convenient way to access funds.

Features:

Experience the convenience of availing of an instant Gold Loan at any of our branches, offering attractive interest rates and flexible repayment options. We prioritize simplicity in banking, ensuring a hassle-free experience for our customers. With our streamlined documentation process and swift turnaround time of just one hour, you can be assured of a quick and efficient service. We prioritize the complete safety of your collateral, providing you with peace of mind throughout the loan tenure.

Eligibility
  • Loan eligibility is determined based on the following criteria:
  • Individual customers between 18 to 60 years of age are eligible for this loan.
  • All profiles are accepted except for jewelers.
  • No income proof is required.
  • Acceptance of jewelry type is at the discretion of the bank.
  • We offer a maximum "Loan To Value" ratio of up to 75% of the gold value.

With Sri Raksh Gold Loan, seize every opportunity that comes your way without compromising your financial freedom. Our customer-centric approach ensures that accessing funds against your gold is not only easy to avail but also easy to repay. Experience the benefits of our simplified banking services today.

Sri Raksh Gold Power

Why should gold be an investment only for the future? With Sri Raksh Gold Power Loans, you can make the best of your heritage & make a few more dreams possible today!

Who can Borrow

Individual (Singly)

Purpose

For any legitimate purposes not for speculative purpose

Max. Finance available

Rs.10.00 lacs

Security

Pledge of Gold Ornaments & jewellery

Margin

30% on the fair value of the security to be pledged

Repayment

1. Limit up to Rs.1 Lac Demand Loan- subject to interest to be paid as and when applied.

2. Limit above Rs. 1 Lac up to Rs.10 Lac – Loan amount to be paid in Twelve months and interest serviced as and when applied with monthly loan servicing.

3. Applicant should provide the requisite standing instructions to debit savings account for the instalments/interest till such time as the loan/OD limit is fully liquidated.

Branches to obtain 6 (undated) security cheques as the case may be, before disbursement in which only the name of the payee should be filled/ mentioned as "Sri Raksh Souhardha Credit Co-op Ltd". (These cheques should be held safely along with documents All gold loans/OD A/c to be closed on or before the due date from own source.

Appraisal Charges

0.5% of the loan amount subject to minimum of Rs.750/- plus GST as applicable.

Loan Processing Charges

1.5%+GST

Documentation Charges

As applicable

Foreclosure charges

1% + GST foreclosure if closed within 6 months

Charges for late payment of loan amount

2% p.a. as penal interest over and above applicable rate of interest.

Prerequisites

Application form along with KYC documents, Income Proof of the applicant/s (SAVING /CURRENT ACCOUNT TO BE OPENED) Legitimate ownership of pledged security in the name(s)the applicant(s) is to be substantiated by appropriate Declaration/Affidavit. Pledge of Gold Ornaments and Gold Coins as Jewellery minimum purity of 22 Carats. i.e. millesimal fineness not below 91.6% Valuation of the ornaments of the gold to be pledged to be done by the Bank’s approved valuer in Bank’s premises. Max of Rs.1800/- per gram of gold to be considered for lending.

About Us

Sri Raksh Souharda Credit Co-operative Limited

At Sri Raksh, we put our customers first. And the confidence that our customers have in us drives us to excel and to redefine boundaries. For us, customer centricity is not just a buzzword. We strive to embody elements of what relationships are about:- Being there for the long haul, through good times and bad Recognising that relationships have swings and roundabouts

Our location

#7, First Floor, Chandra Layout Main Road Income Tax Layout Binny Mills Employees Colony Vijayanagar Bangalore-560 040

Phone Number

(080) -23441011