Gold loan alert! 90 pct LTV and highest per gram rate! This bank comes up with new offers

In good news for people willing to take gold loan, Jana Small Finance Bank has come up with a new offering featuring 90 pct LTV (Loan to Value) and highest per gram rate. Jana Small Finance Bank has announced 90 pct LTV on Gold Loan and highest per gram rate of Rs. 4219. The LTV announcement is in compliance with the Reserve Bank of India's permission to allow only Scheduled Commercial Banks to offer 90 pct LTV on Gold Loan, an official statement said.

Should you consider this offer?

Commenting on the launch of this offer, Jana Small Finance Bank said, "This move from Jana Bank gives a fabulous opportunity for the customers to avail highest loan amount for the same gold ornaments instantly. Staying true to the bank's promise of valuing the hard earned money of its customers, the Bank is also offering gold loan at low interest rate starting at 0.92% per month and gives cash disbursement upto Rs. 2 lakhs making it a truly unbeatable package."

Speaking on the announcement, Sandeep Arora, Head, Marketing and Products, said, "This move from the bank which is in line with RBI's announcement for Scheduled Commercial Banks only will allow our customers to get 20% higher loan amount with their same amount of gold."

Further Arora adds, "As a bank we believe in building relationship with our customers and describe our accounts as 'Khata Nahi, Nata' reinforcing our focus on customer relationship over a mere account transaction. The current announcement will go a long way in boosting the confidence of our customers in current times and help in cementing strong relationships with them."

Meanwhile, Gold prices rose marginally by Rs 11 to Rs 53,132 per 10 gram in the national capital on Thursday following a rally in international market. In the previous trade, the yellow metal had closed at Rs 53,121 per 10 gram.

Silver prices also jumped Rs 1,554 to Rs 68,349 per kg from Rs 66,795 per kg in the previous trade.
In the international market, gold was trading with gains at USD 1,931 per ounce, while silver was flat at USD 25.88 per ounce.