Sudha Co-operative Urban Bank Ltd

• Applicant shall be a member of the bank.
• The purity of Gold ornaments shall be verified & certified by the appraiser appointed by the Bank.
• The amount of loan shall not exceed 70% of the market value of gold.
• The amount of loan shall be sanctioned on the net weight based on the amount per gram as Fixed by the Board from time to time.
• Loan account shall be opened in the system and details of pledged ornaments with Gross weight & Net weight shall be recorded.
• On certification of purity of the gold ornaments by the appraiser the Manager shall sanction loan Up to Rs 99,000/- and above Rs 99,000/- shall he sanctioned by the CEO.

    Documentation :-

• Application
• Appraiser report
• Demand Promissory note
• Undertaking letter
• Declaration

• The sealed pledged gold ornaments bags shall be kept in the joint Custody i.e, Manager & Section assistant as same shall be kept in the double lock Almirah lodged in strong room.
• The pledged ornaments are kept in cloth bag along with a copy of memo of ornaments and sealed with lac along with number tag.
• The pledged gold ornaments shall be insured with General Insurance Company.
• Period of loan.

• Bullet repayment up to the loan of Rs 1.00 lakh i.e one year.
• 1year for the loan above Rs 1.00 lakh.