1. Applicant shall be a member of the bank
  1. The verify purity of Gold ornaments shall be verified & certified by the appraiser appointed by

the Bank

  1. The amount of loan shall not exceed 70% of the market value of gold
  1. The amount of loan shall be sanctioned on the net weight based on the amount per gram as

Fixed by the Board from time to time

  1. Loan account shall be opened in the system and details of pledged ornaments particularly

Along with Gross weight & Net weight

  1. On certification of purity the gold ornaments by the appraiser the Manager shall sanction loan

Up to Rs 99,000/- and above shall he sanction by the CEO, Documentation :-

  1. Application 2.Appraiser repot 3. Demand promissory note 4.Undertaking letter
  2. Declaration,
  1. The sealed pledged gold ornaments bags shall be kept in the joint Custody i.e. Manager &

Section assistant as same shall be kept in the double lock Almarah lodged in strong room


  1. The pledged ornaments are kept in cloth bag along with a copy of memo random of serenities

and sealed with lax along with number tag

  1. The pledged gold ornaments shall be insured with General Insurance Company
  1. Period of loan
  1. a) Bullet repayment up to the loan of Rs 1.00 lakh i.e one year.
  2. b) 1year for the loan above Rs 1.00 lakh
  1. Repayment
  2. a) Bullet repayment up to Rs 1.00 lakh
  3. b) Repayment for loan above Rs 1.00 lakh shall be hi 12 E M I S
  1. Rate of interest present 16.50% the rate of interest maybe changed time to time as per the

Decision of Board of Management

13.It borrower