A GOLD SECURED LOAN is the loan service of Loyal Bank based where the bank will lend money to its clients secured by physical gold, physical silver, physical platinum or physical palladium collateral owned by the client and stored by Loyal Bank in its secure depository facility in Switzerland.
Loyal Bank will lend up to 60 % of the market sales value of its customer's precious metal stocks.
This loan can be used to help our clients cover their possible liquidity issues, and it can be used for further increase of client’s investments in physical gold / silver / platinum / palladium at Loyal Gold. *
Loyal Gold and Loyal Bank gives you
Requirements for a Gold Secured Loan
Example: Diamond Invest Ltd has a current account with Loyal Bank and has purchased physical gold for USD 50,000. The physical gold is stored in the secure depository in Switzerland.
Diamond Invest would like to apply for Gold Secured Loan with their gold holding as collateral. The available amount of loan for the company is USD 50,000 * 0.60= USD 30,000.
Diamond Investment receives the Gold Secured loan of USD 30,000 with a gold collateral of 50 000 USD on the 01 February 2011. Payment is made into their current account at Loyal Bank.
Diamond investment has to repay the USD 30,000 loan one year later, on the 1st of February 2012 or can ask for lengthening the Gold Secured loan contract for another year in either the full or a reduced amount, if it wishes to partially repay.
The interest is payable monthly which will be 200 USD/month and the interest for the entire year will be 8% i.e. USD 2,400).
The bank debits the interest monthly to the client's account.
*Multiple loans are not provided: once a client received the actual loan and purchased further physical metal from the amount, it is not possible to receive a second Gold Secured Loan on the newly purchased stock.
*Gold Secured loans are only issued subject to the borrower having a current account at Loyal Bank and the physical gold / silver / platinum / palladium being already purchased and stored in the secure facility in Switzerland – no other form of collateral will be considered.
Loyal Gold is the physical precious metals service of Loyal Bank Ltd., an international private bank with a Head Office at Cedar Hill Crest Villa, Kingstown, St. Vincent and the Grenadines, West Indies. Loyal Bank is regulated by the International Financial Services Authority in St. Vincent and the Grenadines.
To learn more, please contact us at email@example.com