WBGB Gold loan

1. Any Bona fide Purpose (Income Generating / Personal Need / Consumption) other than for any speculative purposes.
2. Repayment of loans availed from non institutional lenders.
3. Income Generating Loan means loans extended for the purpose of productive economic activities, such as farm credit, loans for business or commercial purposes, loans for creation or acquisition of productive assets etc.

1. For gold loans exceeding Rs. 2.50 lakh sanctioned to a borrower, the assessment of repayment capacity shall consider the borrower's total repayment obligation (existing loans and proposed loan), as declared by the borrower and verified through CIC Report. Further, the Repayment to GAS/I/P (Gross Annual Income/Salary/Pension) ratio shall comply with Bank's guidelines.
2. For loan amounts exceeding Rs. 2.50 lakh (existing if any plus proposed), income verification shall be based on supporting documents such as Form-16, Income Tax Returns (ITRs), salary slip, bank account statement, self-declaration of borrower, or any other relevant document.

Note: Above margin requirement is borrower wise basis, not facility/account wise basis.

1. 1. Demand Loan and Bullet Repayment: Maximum 12 months
2. 2. Demand Loan and EMI based : Maximum 60 months
3. 3. Overdraft Facility will be sanctioned for a period of 12 months only and continuation shall be subject to annual review"

1. The applicable rate of interest shall be in accordance with the Bank’s loan pricing guidelines and the prevailing card rate for gold loans, as circulated from time to time.

Up to Rs 3.00 Lakh : Nil

Above Rs 3.00 Lakh : 0.30% of loan amount