PURPOSE Justified text
Amount can be used for any Purpose, against security of Bank's own FDR's (Term Deposits).
MAX. AMOUNT Justified text
90% of accrued value.
MARGIN - 10 %
ELIGIBILITY Justified text
FDR's (Term Deposits) should be in the name of Applicant.
In case of third party FDR, NOC from third party required for loan.
REPAYMENT Justified text
Co-terminus with due-date of FDR’s,
RATE OF INTEREST Justified text
In case of Own FDR's (Term Deposits):- 1% more than FDR ROI
In case of Third party FDR's (Term Deposits):- 2% more than FDR ROI
SECURITY Justified text
Lien on Bank's Term deposits
SERVICE CHARGES Justified text
As per Service Manual Charges
OTHERS
- Loan is sanctioned against Term deposit to Proprietorship firm, Partnership firm, Ltd., Liability Partnership firm or Pvt. Ltd. Company. If the said Term Deposit is in the personal name of the Proprietor/ Partner/ Director, it will not be treated as a Third Party facility, and ROI applicable will be 1% above TD interest rate.
- The FLXLN facility will be allowed against Term Deposit of our bank, excluding Recurring Deposits /DDS.
- Periodical Interest on QID/MID schemes will be credited to Loan/FLXLN account.
- In case of advance against various deposit receipts with different ROI, we charge a differential interest rate slab wise depending on outstanding balance or Limit availed in ascending order.
- No facility will be sanctioned against ATSS.