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Advances Against Gold Ornaments

• To overcome immediate need of people bank has introduced Gold Loan Scheme
• Immediate Loan / OD Sanction Facility
• Rate of Interest:
  (1) 9.00% for Loan Amount upto Rs. 5 Lacs
  (2) 7.99% for Loan Amount Rs. 5 Lacs and Above
• Bullet Payment Facility for Advance upto Rs. 3.90 Lacs
• Instalment facility available for advance where amount of loan is more than Rs. 3.90 Lacs
• Valuation within Bank Premises
• Gold ornaments will be preserved in safe under supervision of Bank Official.
• Margin -
  (1) For Instalment repayment facility margin will be 25%
  (2) For Bullet payment facility margin will be 35%

Minimum Requirements:

• KYC Docs are Mandatory
• Applicant has to be RNSB Shareholder (If not then they may subscribe for the same)
• Up to Rs. 1,00,000/- Applicant may apply for Nominal Shareholder
• More than 1,00,000/- Applicant should be Regular member