Hello sir I want to know about Gold Loan in Lakshmi Vilas Bank so here can you please give me details ?

Hey as Lakshmi Vilas Bank was founded in 1926 by a group of seven progressive businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar.


Quantum

Minimum: Rs.0.50 Lacs. Maximum: Rs.5.00 to 50.00 Lacs.

Based on the advance value per gram of gold as fixed by the Bank from time to time in respect of jewel advances and due appraisal by the Bank appraiser.

Security

Pledge of gold ornaments.

Interest Rates

Agri. Purpose : Base Rate + 1.00% (PER: 11.70% p.a.)

Non-Agri. Purpose : Base Rate + 2.25% (PER: 12.95% p.a.)

Repayment Period

Continuation of facility based on annual review

Loan processing fee

0.50% of the limit sanctioned, subject to a minimum of Rs.100/-.

Type of facility

The product is available as Overdraft against pledge of gold jewels.

Purpose

To meet the personal/agricultural/business requirements of Individuals, Business entities