Federal Bank introduces 'Federal Easy Gold'

Thursday, January 4, 2007, 18:23 [IST]

Kochi, Jan 4 (UNI) Kerala-based Federal Bank has introduced a gold loan product 'Federal Easy Gold', an any purpose personal overdraft against the pledge of gold ornaments or gold coins.

An official release here today said, the customer can avail upto Rs five lakh and interest can be remitted on an annual basis.

The limit is operational through the bank's ATMs and branches, making the product an anytime and anywhere gold loan. The product is suitable for all customers, including employees and professionals and also suitable for those, who invest in gold ornaments, but need cash liquidity on a regular basis.

The customers, who keep gold ornaments in personal custody or bank locker can give the same under pledge and avail this facility to ensure all time cash liquidity, the release added.

Any amount can be repaid at any time without pre-payment charges.

UNI

Topics: bank, introduced, gold, loan, product, 'federal, easy, gold', purpose, personal, overdraft, ag

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