Frequently Asked Questions

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    Who is eligible to avail Gold loans? What security has to be provided?

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    What are the documents required for taking loan against gold ornaments? Are there any end-use restrictions involved?

    To abide by the KYC (Know Your Customer) Policy of RBI and approved KYC norms of our Company, we insist to produce one document of identity proof (Such as Ration Card with photo, Driving License, PAN Card, Voter ID card, Passport, Aaadhar Card etc.) and one document of residential address proof (Such as Telephone Bill,Electricity Bill, Water Bill, Bank account / Credit Card Statement, Municipal / Local/House Tax Bill / Receipt, Authentic Rent Receipt / Lease Document, Letter from from reputed employer/ Public Authority).
    There are no end-use restrictions in gold loans.
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    What is the rate of interest charged on such loans? How is the interest calculated?

    Our base rate of interest is 12 percent. However, depending upon how high the loan to value (LTV) is, additional interest (amounting to risk premium) ranging from 4-8 percent is charged over and above the base rate. The interest and risk premium is applicable only for the days the money was actually utilised. There are no prepayment penalties.Simple interest is charged, which the borrower has to pay at the specified periodicity or at the closure of loan, whichever is earlier. The interest rate is fixed and calculated on a reducing balance basis.
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    What is the tenure of such loans?

    Our gold loan products have a maximum tenure of one year. However, depending upon how high the LTV is opted, members are required to service the interest at specified periodicities. For example, in schemes where LTV is high, interest would have to be serviced monthly.
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    How long will it take for me to get my gold loan?

    Once you submit your Application Form, Demand Promissory Note and supporting documents, we shall give approval within a matter of minutes provided everything is in order. All loan approvals are at the sole discretion of the Branch Head.
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Mrs. Jyothi Prasannan, Managing Director visiting Salim Ali Foundation at Vellangaloor, which is supported by MABEN for Holistic Ecological Self Sustainable Development of the Vellangaloor Panchayat.

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CSR Initiative

Mrs. Jyothi Prasannan, Managing Director visiting Salim Ali Foundation at Vellangaloor, which is supported by MABEN for Holistic Ecological Self Sustainable Development of the Vellangaloor Panchayat.

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CSR Initiative

Mrs. Jyothi Prasannan, Managing Director visiting Salim Ali Foundation at Vellangaloor, which is supported by MABEN for Holistic Ecological Self Sustainable Development of the Vellangaloor Panchayat.

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CSR Initiative

Mrs. Jyothi Prasannan, Managing Director visiting Salim Ali Foundation at Vellangaloor, which is supported by MABEN for Holistic Ecological Self Sustainable Development of the Vellangaloor Panchayat.

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CSR Initiative

Mrs. Jyothi Prasannan, Managing Director visiting Salim Ali Foundation at Vellangaloor, which is supported by MABEN for Holistic Ecological Self Sustainable Development of the Vellangaloor Panchayat.

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