JK BANK LOAN AGAINST GOLD AND JEWELLERY| Jammu and Kashmir J&K Bank

Any purpose including Business, personal need, Domestic purposes, Medical needs, etc.
Finance shall not be provided for speculative purposes.
Purpose of the loan should be clearly indicated in the application as well as in the documents.

Individuals, singly or jointly maintaining account with our Bank.
Age of applicants should be between 18 -70 years.
Gold Jewellery should be owned by the applicant or any of his family members, i.e. Spouse & Children (who shall be co- borrowers)*
J&K Bank (Staff) shall also be eligible.
Loan can also be advanced against the specially minted Gold Coins sold by Banks subject to the condition that the weight of the coin(s) does not exceed 50 grams per customer.
However the loan shall not be granted to Pawn Brokers, Gold Smiths, Gold Valuers, Foreign Nationals, HUF, Minors, Firms, Companies, Trusts, Societies, NGO’s and other such Associations.
Loan shall also not be granted against Bullion items like, Bars andBiscuits, etc.

Multiple, subject to the condition that maximum exposure per customer shall not exceed the prescribed ceilings.

Short Term Loan: 6-12 months to be paid by any of the following methods:
Equated Monthly Installments (EMI)
or
Bullet Payment Method: Customer can choose to serve Monthly Interest only and repay the entire Principal outstanding at the end of the loan tenure

Female Borrowers /Joint accounts having one member as female shall be eligible for concession of 50 bps.

Valuation Charges:
For cases upto 1.00 lakh: Rs 500/-

For cases above 1 lakh and upto 5.00 lakh: Rs 750/-