Navabharat Gold Loans
Navabharat Gold Loans can be availed by pledge of gold ornaments including gold coins sold by Banks, duly verified for quality and quantity with simple documentation. Any individual of 18 years age either singly or jointly with others can avail Gold Loans.
Features
- Minimum Loan Amount: Rs.10,000.
- Maximum Loan Amount: Rs.45,00,000; with effect from 01.04.2026, subject to revision from time to time.
* Margin @ 25% for EMI based Gold Loans.
* Margin @ 25% Overdrafts against Gold Ornaments.
* Margin @ 25% for 3 months Bullet Repayment Gold Loans.
* Margin @ 30% for 6 months Bullet Repayment Gold Loans.
* Margin @ 35% for 12 months Bullet Repayment Gold Loans.
- Processing Charges for Gold Loans up to Rs.1,00,000: @0.10% of loan amount, with a minimum of Rs.250+GST.
- Processing Charges for Gold Loans of Rs.1,00,001 and above: @0.30% of loan amount, with a minimum of Rs.500 and a maximum of Rs.10,000+GST.
- Appraising charges @0.25% of the Loan with a minimum Rs.250 + GST, Further appraisal of Gold is not required for 2 subsequent renewals subject to the remaining Gold Ornaments remain in the bank’s custody.
- Interest @ 13.25% pa.
- Interest Frequency: Interest will be charged monthly.
- Monthly Penal Charges will be charged @1% pa on the outstanding liability.
- Early Closure Charges of 15 days’ interest along with a service charge of Rs.150 will be charged on the loans that are closed within 15 days of availing the loan.
Repayment
- Repayment of Principal and Interest will be commenced from the month following the month of disbursement for Gold Loans repayable in EMIs.
- Liability shall always be within the Limit sanctioned in respect of Overdrafts against Gold Ornaments. Monthly interest is to be served.
- Drawing power may fluctuate based on current market price of gold, within the sanctioned limit.
- Bullet Repayment Gold Loans shall be closed within their respective terms.
- 3 months Bullet Repayment Gold Loans shall be repaid within 3 months.
- 6 months Bullet Repayment Gold Loans shall be repaid within 6 months.
- 12 months Bullet Repayment Gold Loans shall be repaid within 12 months from the date of availing the loan.
Documents required for availing Gold Loans:
- Application for Gold Loan with two copies of Passport size photographs.
- Proof of Identity and proof of Address - Adhar.
- Witness Letter in case of illiterate borrowers.
- Gold Ornaments Take Delivery Letter.
- Arrangement Letter.
- DP note and DP Note Take Delivery Letter.
