Features & Benefits
Terms & Conditions:
The rate of interest will be @ 0.91% to 1.25% per month.
The valuation of the gold ornaments will be done by NVT Nidhi through authorized value, and the cost of valuation will be borne by borrower.
Two colored photographs of gold ornaments are required
Two colored photographs of borrower and his/her ID proof are required
The loan interest will be paid on monthly basis.
In case of nonpayment of interest for 12 months, the Gold ornaments will be sold by NVT Nidhi.
The expenditure on sale of Gold ornaments plus due loan amount and 5% penalty rest on due amount interest will be deducted and balance amount will be deposited in to loan account.
The borrower has to provide an affidavit declaring the ownership of the ornaments.
In case the borrower does not pay the interest a penalty of 5% has to be paid along with next interest installment.