National Bank of Pakistan (NBP) is one of the leading commercial banks in Pakistan. NBP offers various product for public for savings in form of deposits as well as loans for those in needs. One of the unique lending product of NBP is NBP Gold n Cash Loan.
The main features of NBP Gold n Cash have been summarized for your ease:
Maximum Loan Amount
Maximum limit of loan amount is Rs. 5 Million or 50 lacs.
Financing Ratio
In case of one year financing, Rs. 45,000/- for each 10 gram gold. However, the financing amount is Rs. 40,000/- each gram for a 3 years loan.
Monthly Income requirement
There is no minimum income requirement to avail this loan facility
Collateral / Security
Cash n Gold is a loan issued by the banks against collateral of gold ornaments. This product is primarily focused towards meeting domestic financing needs such as education, marriage, medical or any other lawful purpose.
Those who have any kind of gold jewelry / ornament of purity over 21 karats can furnish as security and avail a gold loan.
Mark-up Rate
As per the NBP website, the current mark-up rate is 15.5% Fixed.
Loan Tenor
The tenor of loan is 1 year and 3 years.
Processing fee
The processing fee for NBP Gold n Cash loan is Rs. 1,000/-.
Early repayment Option
You can pay-back the loan amount before its tenor without any additional charges except payment of up to date Markup.
Main Highlights of NBP Gold n Cash Loan
For further details please visit National Bank of Pakistan website.
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