Summit Gold Loan is a secured running finance /personal loan facility designed to cater to the emergency funding needs of individuals.
Features:
| Loan Amount | Minimum: Rs.50,000/-Maximum: Rs.2,000,000/- |
| Loan Tenor | 1 Yr |
| Mark-up Rate | 3 Months KIBOR + 500bps or Minimum 15%
*Mark-up rate to be revised on Quarterly Basis |
| Loan Limit against Gold | Upto 60% of Gold Value |
| Loan Type | Running Finance / Term Finance |
| Insurance | Insurance of Gold will be mandatory from Bank’s authorized
Insurance Company |
| Loan Enhancement Facility | Available |
| Early Settlement Facility | Available |
Note: Subject to other prevailing terms & conditions
Benefits:
- Quick Processing
- Minimum Documentation
- Competitive Rates
Requirements:
- Account will be opened in accordance with documentary requirements laid down in the SOP of “Account opening and management”
- Must be a resident Pakistani
- No minimum income required
- 2 passport size photograph of applicant
- 1 passport size photograph of Nominee
- 2 References
- Quality of Gold Not less than 18 Karat