4. Agriculture Gold Loan Scheme

Loan Amount : Based on the prices of gold. Maximum loan amount under the scheme will be Rs. 10.00 lac.

Loan Term :

CC / OD - Like KCC, it is a running account for a period of 3 years, subject to review at annual intervals.
DL / TL - The repayment period will not exceed 36 months.

Interest Type : Floating

a) Interest Chargeable (in case of Floating Rate Loans)
i) Loans granted for raising of crops upto Rs. 3.00 lacs = 7% p.a. (Where Interest Subvention is available from Govt. of India)
ii)  Loans granted for other agriculture/allied activities =0.75% above Base Rate i.e. 10.40% p.a.

b) Interest Chargeable(in case of Fixed Rate Loans) - Not Applicable

Fee Payable during the term of the loan

i) Inspection charges: Waived
ii) Prepayment penalty:- Waived

Processing charges:

i)  upto Rs.50000/-  Nil
ii)  > Rs 50000 upto 1 lac-Rs.100/-
iii)  > Rs. 1 lac upto 3 lacs-Rs. 100/- per lac
iv)  > Rs. 3.00 lacs : 0.30% of loan amount with maximum of Rs.30 lacs

Penalty for delayed payments: @ 2% on the entire outstanding for the period of default.

EMI payable:

CC / OD-Like KCC, it is a running account for a period of 3 years, subject to review at annual intervals.
DL / TL-The repayment period will not exceed 36 months.

Details of Security/ Collateral Obtained

Pledge of gold ornaments. The weight of gold is only to be taken into consideration and the weight of all extraneous matters such as wax, string, fastening etc. as well as precious stones must be entirely ignored. .

For further details click here

Source: https://www.sbp.co.in