Purpose
Agri Gold Loans are targeted to provide financial assistance to all direct / indirect agricultural and allied activities like raising crops, meeting working capital requirements of all allied activities like dairy, fisheries, poultry, trading in agricultural inputs like fertilizers, poultry inputs, seeds, agricultural equipment, etc. Agri Gold loan is available against pledge of gold ornaments owned by the borrower.
Who is eligible for Agri Gold Loan ?
Individuals engaged in Agriculture and allied activities are eligible to avail Agri Gold Loans.
Maximum Loan Amount
Maximum loan amount is Rs.10.00 Lakhs.
Rate per Gram (w.e.f. May 16th 2012)
For 12 Months period : 75% of market value subject to a maximum of Rs.2000 per gram.
For 6 Months period : 80% of market value subject to a maximum of Rs.2100 per gram.
Duration
Agri Gold loans can be availed upto a Maximum duration of 12 months
Security
Pledge of 22 ct gold ornaments
Repayment
Agri Gold loan can be repaid as Lump sum with interest
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Salient Features of Agri Gold Loan
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More money at Lower interest rates
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No Hidden Charges or Heavy Penalties
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Processed within a few minutes
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Loan up to a maximum amount of 10.00 lakhs
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No collateral security required
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Lump sum repayment option
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