Loan against pledge of gold ornaments is available for advances under priority sector. The scheme been implemented through selected branches all over the country. The gold / silver ornaments / jewellery must belong to the persons pledging them and he/she must be a local resident and preferably an account holder of the branch. In case there is no account, the identity, address, introduction etc of the person should be provided to the satisfaction of the branch.
The advance value is fixed as per valuation of gold / silver ornaments to be pledged by the applicant based on the purity of the gold / silver and the prevailing market price of the gold / silver. The valuation of the ornament will be done by the Bank’s approved assayer/valuer.
The maximum amount that can be availed under the scheme is Rs 3.00 lacs under scheme.
Repayment schedule will as per the income generation of the borrower depending on the purpose of loan. Maximum period allowed under the scheme is 12 months.
The Rate of Interest depends on the sector of advance as per RBI / Bank’s guidelines in the matter which varies from time to time.
For Agricultural purpose, a declaration given by the applicant is enough for proof of land holding and crop cultivation expenses requirement for loans up to Rs 1 Lacs.
Specially minted gold coins sold by Banks in India are also considered as security for loan.
Higher advance value for hallmarked Jewellery / ornaments
> Baroda Kisan Credit Card (BKCC)
> Agricultural Implements
> Tractors and Heavy Agricultural Machinery
> Financing Second Hand Tractors
> Cultivation of Crops
> Farm Produce Marketing Loan
> Irrigation Potential
> Baroda Kisan Tatkal Loan Scheme
> Dealers of Agriculture Inputs
> Financing Agencies Providing Custom Services To Farmers
> Providing Employment To Unemployed Technical Personnel Through Agro Service Centers
> Agriclinics and Agribusiness Centers by Agriculture Graduates
> Financing Construction of Farm Building and Structures
> Construction / Expansion / Modernisation / Renovation of rural godown
> Development of Horticulture
> Land Development
> Scheme for Loan Against Gold / Silver Ornaments / Jewellery
> Dairy, Poultry, etc.
> Financing Scheduled Caste/Scheduled Tribes
> Scheme for purchase of Agricultural land
> Scheme For Construction Of Sanitation Facilities In Rural Areas