Benefits with RBI for new rules for those who take gold and silver loans .. Know these changes!
The Reserve Bank has introduced new rules for loans on gold and silver. Under the new rules, new rules have been received for banks for gold and silver borrowers. RBI new gold loan rules apply to all types of commercial banks, NBFCs, cooperative banks and housing finance companies. This is strictly necessary for those who borrow gold, silver ornaments or coins to borrow 8 major changes.
High LTV for small loan
Gold borrowers now lend 85 percent of the price of gold. It has been increased by 75 percent in the past. This new loan for the price (LTV) limit. Applies to loans up to 2.5 lakhs. For example, your gold is Rs. If you deserve 1 lakh rupees, then you now get a maximum of Rs. 85,000 can be obtained. In the past, Rs. 75,000 loans.
Less than 2.5 lakh gold loan
Banks do not require detailed income verification or credit check for gold loans with less than 2.5 lakhs. Its purpose is to easily obtain gold loans to low -rights and rural areas.
This is the limit
Gold jewelery that should not be good for a maximum of 1 kg. Gold coins should be a maximum of 50 grams. Silver jewelry does not exceed a maximum of 10 kg. Silver coins should be a maximum of 500 grams. This range applies to all borrower and all branches of banks.
Should be given only one day
If banks lend to gold or silver mortgage .. then jewelry/coins should be returned on the loan day. If there is a delay for some reason, it should be given within a week. If there is a delay, the customer is Rs. 5,000 compensation is to be given.
Full compensation
If gold or silver audit or returns stored during returns are found to be damaged, banks should be fully compensated for the owner.
Auction
If the loan is not paid, banks should give appropriate notice before auctioning gold. The reserved price should be at least 90 percent of the market value. The stone is also more than a loan in auction. The additional funds received in the auction should be returned to the borrower within 7 working days.
Regional language
Gold/silver loan regulations and assessment details should be shared in the borrower’s favorite or regional language. Information should be provided for illiterate borrowers in the presence of an independent witness. These new RBI rules will be applicable from April 1, 2026. The current rules apply to gold loans taken earlier.
