Gold loan is a secured loan in which a member pledges his/her gold ornaments as collateral with JMS Rural Development Nidhi . The JMS Rural Development Nidhi , in turn, gives a loan amount as per the market value of gold to the member. It is a very quick and easy way of fulfilling member;s financial needs as compared to the other loans.
Benifits Of Availing Gold Loan From JMS Rural Development Nidhi:
- Faster and easier transactions
- Quick disbursal of loan
- Best value for gold in the market
- Security and insurance of gold pledged
How Value Of Gold Jewellery/Ornament Is Calculated:
The market value of your gold is calculated according to the per gram market rate of gold on the day of the loan application. If pledging gold ornaments or jewellery, only the parts that are gold are used to calculate the value; other metals, stones and gems are excluded from the calculations.
What Is The Tenure Of Gold Loan Provided By JMS Rural Development Nidhi :
The minimum tenor is 3 months, while the maximum is 11 months.
What Is The Maximum Loan Amount That I Can Take:
You can avail a maximum loan of up to 75% of the market value of your gold depending on the quality of the gold.