When you need immediate financial support for personal or agricultural needs, Uttar Bihar Gramin Bank has your back with its Gold Loan schemes. These hassle-free loans are designed to cater to various financial requirements, so you can meet your goals without delay.
Table of Contents
Gold Loan- Personal
Purpose
Uttar Bihar Gramin Bank’s Gold Loan (Personal) is here to help you with urgent personal expenses. Whether it’s for a wedding, medical emergencies, education, or other non-agricultural needs, this loan has you covered.
Eligibility
You need to be above 18 years to be eligible for this loan.
Loan Amount
The loan amount ranges from Rs. 10,000/- to Rs. 20,00,000/-. This amount is determined based on the value of gold per gram assessed and determined by the bank.
Nature of Facility
This loan is a demand loan, meaning you can access funds as needed.
Margin
A margin of 30% is required.
Repayment
The maximum repayment period is 12 months.
Security
You’ll need to provide gold ornaments or gold coins (maximum 50 grams) sold by banks as security.
Prepayment
Good news! There are no prepayment charges.
Gold Loan (Agriculture) – Supporting Farmers
Purpose
The Gold Loan (Agriculture) is tailored to help farmers meet their crop production and investment credit needs for agricultural and allied activities. It’s your go-to solution for quick financing against the pledge of ornaments and gold coins.
Eligibility
Applicants must be above 18 years and engaged in agriculture or allied activities.
Loan Amount
You can access loans of up to Rs. 20,00,000/-. The loan amount is based on the value of gold per gram assessed and determined by the bank.
Nature of Facility
This loan offers various options, including demand loan, cash credit, overdraft, and term loan.
Margin
The margin requirement is 30% for CC or loan up to 1 year and 40% for term loan or loan beyond 1 year.
Repayment
For CC OD, the maximum repayment period is 5 years in line with KCC. Demand loan has a maximum repayment period of 18 months, and term loan can be repaid over a maximum of 5 years.
Security
As with the Gold Loan (Personal), you’ll need to provide gold ornaments or gold coins (maximum 50 grams) sold by banks as security.
Prepayment
Just like the Gold Loan (Personal), there are no prepayment charges for this loan.
Interest Rates
Here are the interest rates for the different Gold Loan schemes:
- Gold Loan (Personal): 12.00%
- Gold Loan Agriculture (other than KCC): 11.00%
Gold Loan Agriculture (KCC) Regular Account:
- Up to Rs. 3,00,000/-: 7.00% p.a.
- Above Rs. 3,00,000/-: 12.00% p.a.
Gold Loan Agriculture (KCC) Overdue Account:
- Up to Rs. 3,00,000/-: 12.00% p.a.
- Above Rs. 3,00,000/-: 13.00% p.a.
Available in Selected Districts
Please note that these Gold Loan schemes are currently operational in Darbhanga, Muzaffarpur, Gopalganj, Purnea, and Siwan districts only. However, more districts will be added soon, so stay tuned!
Uttar Bihar Gramin Bank’s Gold Loans are your key to accessing quick funds for various financial needs. Whether it’s personal expenses or agricultural requirements, we provide efficient and convenient loan solutions.