KVGB Launches Special Gold Loan Scheme Vikas Laghu Suvarna for Pandemic

The Karnataka Vikas Grameena Bank (KVGB) has launched a special gold loan scheme titled ‘Vikas Laghu Suvarna’ with a reduced interest rate of 7.25 percent.
KVGB is offering the product at reduced rate mainly due to the pandemic so as to provide easy and affordable credit to customers at a cheaper cost.
Under the new gold loan scheme, the customer will get 80% of the market value of the gold, subjected to a maximum of Rs 3,200/gram.
A customer can avail up to maximum loan of Rs 15 lakh, which will be repayable within a period of maximum 6 months
The Karnataka Vikas Grameena Bank is an Indian Regional Rural Bank sponsored by Canara Bank. Its headquarter is based at Dharwad.