Loan Against Deposit Scheme

Purpose:
In order to meet the financial needs of an individual for domestic/business related purposes Loan against Fixed Deposit/ Recurring Deposit/NSC/Kisan Vikash Patra is being given under this scheme.

Eligibility:
This scheme is applicable to general public, customer of the bank and staff of the bank.

Repayment Period :
Maturity period of Fixed Deposit/Recurring Deposit/NSC/Kisan Vikas Patra or 36 months whichever is earlier.

Fixation of loan limit:

  1. No maximum limit but in case of NSC/Kisan Vikash Patra minimum  10,000/-.
  2. In case of Fixed Deposit/Recurring Deposit-
  3. Other than staff 90% if the face value of the instrument and interest accrued.
  4. For staff 95% of the face value and accrued interest.

Margin:

  1. In case of Loan Against NSC/Kisan Vikash Patra- 25%.
  2. In case of Loan Against Deposit-
  3. Other than Staff 10%.
  4. For Staff 5%.

Rate of Interest:
As decided by the bank from time to time.

Security:
Pledge/Lien in favor of bank against Fixed Deposit/ Recurring Deposit/NSC/Kisan Vikash Patra.



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