Loan against Sovereign Gold Bond
Sovereign Gold Bond is a preferred investment tool as it eliminates the risks associated with the holding of gold in physical form.
Federal Bank offers ‘Loan against Sovereign Gold Bond’ which can be used to meet your personal needs or any other lawful needs. Pledge of Sovereign Gold Bond in both demat and physical form are accepted as security. This facility is available at all our branches.
Key Features & Benefits
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Eligible customers |
Resident Individuals, Trusts, HUFs, Charitable Institutions and Universities. |
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Type of facility |
Overdraft and Term Loan |
|
Rate of Interest |
12.50% |
|
Minimum Loan Amount |
Rs. 20 Thousand |
|
Maximum Loan Amount |
Rs. 25 Lakhs |
|
Loan Tenure |
Overdraft – 24 Months |
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Term Loan – 48 Months |
|
|
Margin |
35% - For loans up to and including Rs. 20 Lakh |
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50% - For loans above Rs. 20 Lakh and up to Rs. 25 Lakh |
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|
Security |
Pledge of Sovereign Gold Bonds in both Demat and BLA/Physical Certificate form |
Fees & Charges
Processing Fee: 0.50% + Taxes of the limit subject to a minimum of Rs 1000 + Taxes
Interest Rates
12.50% Fixed