KSFE GOLD LOAN
Purpose: The Scheme is intended to provide short term loans for people who are urgently in need of money, on the security of gold ornaments.
Loan Limit: Maximum loan amount in this scheme is limited to Rupees 25 Lakhs per individual per day.
Interest Rate: Upto and including Rs.10,000/- 7.50% per annum(simple)
Rs. 10001 to Rs.20,000/- 8.75% per annum(simple)
Above Rs.20000/- and upto & including Rs.25,00,000/- 9.75% p.a. (simple)
Default rate 3 months to 6 months = 0.75%, 6 months to 9 months = 1%, 9 months to 1 year = 1.25%, above 1 year =1.5%. Minimum Interest Rs.25/- for loans above Rs.5000/-
Period of Loan: Maximum period of loan is 12 months. Loanee can renew the loan for a further period of one year, after remitting the due interest and this facility can be availed up to 36 months.
Business Hours: Gold loan counter will be open from 10.00 AM to 4.30 PM on all working days.