Gold Loan Bullet Payment Increases Upto 2 lakh: RBI

Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
For Daily Alerts

    The Reserve Bank of India on Thursday decided to increase the quantum of loan that could be granted under the scheme, from Rs 1 lakh to Rs 2 lakh with subject to the following conditions:

    Gold Loan Bullet Payment Increases Upto 2 lakh: RBI

    i. The period of the loan shall not exceed 12 months from the date of sanction.

    ii. Interest will be charged to the account at monthly rests but will become due for payment along with principal only at the end of 12 months from the date of sanction.

    iii. State and central cooperative banks should maintain a Loan to Value (LTV) ratio of 75% on the outstanding amount of loan including the interest on an ongoing basis, failing which the loan will be treated as a Non Performing Asset (NPA).

    Read more about: gold rbi
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more