Corporate Office

1st floor, Nandwana Mansion,
Lohamandi Corner,
Sansar chandra Road,
Jaipur
Pin Code:- 302001
info@padmavaticooperative.com

Phone :
          
0141-2375136
0141-2365136


LOAN AGAINST ORNAMENTS

1. In case of emergency, the borrower can seek loan by mortgaging gold / silver ornaments with society.

2. The rate of interest will be @ 24% (flat) per annum.

3. The loan will be up to 60% of ornament value and will not exceed Rs. 5 lac.

4. The valuation of the ornaments will be done by society through authorized valuer and the cost of valuation will be borne by borrower.

5. Two coloured photographs of ornament to be mortgaged with society are required.

6. Two coloured photographs of borrower as document are required.

7. There will be no file charge and service charge on this loan.

8. The loan interest will be paid on monthly basis.

9. The loan period will not exceed more than one year.

10. In case of nonpayment of interest for 5 months, the ornaments will be sold by society.

11. The expenditure on sale of ornaments, due loan amount and 5% penalty interest on due amount will be deducted from sale deed and the balance will be deposited to saving account by cheque.

12. A copy of borrower’s identity proof is required.

13. The borrower has to provide an affidavit declaring the ownership of the ornaments