Gold Security
Gold ornaments are accepted as security up to a liability of 90% of their market value, subject to the following conditions:
- Appraiser’s fee - 0.30% of the future liability (Minimum of ₹30/- and a maximum of ₹750/-)
- Gold ornaments may be accepted upon approval from manager based on the appraiser’s recommendations.
- Gold coins and similar gold ornaments areacceptable as security.
The following items are not acceptable as gold security:
- Ornaments made up of less than 18 carat gold.
- Damaged or broken gold ornaments.
- Gold ornaments filled with wax, lac or other such materials.