The loan is available against gold ornaments with the following features:
- The documents of the applicant are required to be submitted along with the application form to avail of the loan. Such requirement is simple in nature as the documents are easily available and basic in nature. Once submitted, the sanctioning of the loan does not take time. Thus, the customer does not have to wait endlessly for availing the funds as the funds are readily available post sanctioning
- The documents required are easy and simple which are easily available with any individual. Thus, there is no cumbersome documentation process which is required to be submitted making the loan easily available
- The loan offers flexible repayment tenure with easy and flexible repayment options. Thus, the applicant can choose any tenure whichever is suitable for him or her to repay the loan. The repayment process is also simplified and flexible making the loan easy to be paid off without proving a burden to the customer
- Interest rates are competitive starting at a rate of 13.50% per annum on a floating basis. The interest rate that the bank charges is competitive with the rates of other banks so that customers may prefer Dhanlaxmi Bank rather than other banks.
- The loan granted is calculated using the Loan To Value (LTV) ratio. The LTV ratio is upto 85% of the value of the ornaments pledged to the bank. Thus, the gold jewelry that the customer pledges to avail the loan will be valued at a maximum limit of 85% and the resultant value is offered as loan
Eligibility Criteria: Individuals, proprietorship concerns and partnership firms can avail the loan against gold ornaments owned by the individual, proprietor or any partner of the firm.