HDFC Bank has on recently announced the launch of 'Bharosa Gold Loan'. A tailor made product for the rural customer, the 'Bharosa Gold Loan' will be offered through 1,300 branches of the bank in over 950 locations pan India.
Mr Biju Pillai, senior executive vice president & business head said, ''The Bharosa Gold Loan will offer a loan amount of up to 140 % of the gold valuation. To ensure transparency, customer is given a valuation certificate with the itemized description of gold, its weight and the amount lent. The minimum loan amount will be Rs. 10,000 for the rural areas while for the other regions it will be Rs. 25,000. The interest rate for the gold loan product will vary from 11-12 % to 15 %. "
The HDFC bank would offer differential interest rate to women planning to avail gold loan
Mr Biju Pillai, senior executive vice president & business head said, ''The Bharosa Gold Loan will offer a loan amount of up to 140 % of the gold valuation. To ensure transparency, customer is given a valuation certificate with the itemized description of gold, its weight and the amount lent. The minimum loan amount will be Rs. 10,000 for the rural areas while for the other regions it will be Rs. 25,000. The interest rate for the gold loan product will vary from 11-12 % to 15 %. "
The HDFC bank would offer differential interest rate to women planning to avail gold loan
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