Services Details Page || Eluri Co-Operative Urban Bank

Overdraft Facility Against Gold Ornaments

Secured Overdraft on Gold from Eluri Bank provides instant liquidity by pledging your gold ornaments. It offers you the flexibility to withdraw funds as needed while keeping your gold safe and secure.

This facility is ideal for those needing flexible, short-term funds with the convenience of reusing the sanctioned limit without reapplying.

Features of Overdraft on Gold

Overdraft limit up to 80% of gold’s appraised value
Attractive interest rates starting from 10% p.a.
Tenure options from 12 months to 2 years
Loan from ₹1,00,000 to ₹50 lakhs based on gold value
Interest charged only on the utilized amount
Flexible withdrawals and repayments
Quick processing and same-day sanction
Safe and secure gold storage
No prepayment or foreclosure charges

Documents Required

KYC Documents – PAN Card, Aadhar Card
Gold to be pledged for valuation
Passport-size photograph
Existing or new Eluri Bank account details

How to Apply

1. Visit your nearest Eluri Bank branch
2. Submit your gold for evaluation
3. Provide KYC and bank details
4. Get same-day overdraft limit approval

Is my gold safe with the bank?

Yes, your gold is securely stored in the bank’s vaults under constant surveillance and full insurance coverage.
How is interest calculated on the overdraft?

Interest is charged only on the amount withdrawn from the sanctioned overdraft limit, not on the full sanctioned amount.
Can I close the overdraft early and take my gold back?

Yes, you can repay the outstanding amount anytime and collect your gold immediately. No foreclosure charges apply.