Indian Bank Gold Loan
Indian Bank offers agricultural jewel loans which can be used by the borrowers for their short-term credit requirements. The credit can be used for multiple agricultural requirements such as purchase of pesticides, fertilisers, seeds, and so on.
|Name of Scheme||Indian Bank Agricultural Jewel Loan Scheme|
|Rate of Interest||7% Onwards (Based on the loan amount)|
|Minimum Loan Amount||Based on the valuation of the Jewel which is being pledged|
|Loan Tenure||Adjustment of loan amount within 2 months from the date of harvest of crops|
Benefits of Indian Bank Agricultural Jewel Loan Scheme
- All farmers are eligible for this loan
- Short term loan for meeting the requirements of regular agricultural expenses
- Loan amount on the basis of the valuation of the jewel which is being pledged
- Easy repayment of loan amount which allows adjustment after the harvest of crops
Indian Bank Agricultural Jewel Loan Scheme Charges, Fees
- Up to Rs.25,000: Nil
- More than Rs.25,000 but less than Rs.5 lakh: 0.30% of the loan amount, subject to a minimum of Rs.300
- More than Rs.5 lakh but less than Rs.1 crore: 0.28% of the loan amount, subject to a minimum of Rs.1,500
Indian Bank Gold Loan FAQ:
What are the documents required to avail the Indian Bank Gold Loan?
The list of documents that must be submitted to avail the loan is mentioned below:
- Application form.
- Proof of address such as Driving License, Aadhaar Card, Passport, Voter ID, etc.
- Proof of identity such as Driving License, Aadhaar Card, Passport, PAN Card, Voter ID, etc.
- Agriculture land proof in the applicant’s name.
- Proof that crop will be cultivated.
Who can apply for the loan?
All individual farmers are eligible to apply for the loan.
What are the main features of the Agricultural Jewel Loan Scheme?
The main features of the Agricultural Jewel Loan Scheme are mentioned below:
- No hidden charges
- Jewel appraiser and processing charges will be applicable
- The rate of interest is low
- The repayment schedule is convenient
- The loan process is easy and hassle-free