Shopin

LOAN/ OVERDRAFT AGAINST BANKS OWN TERM DEPOSIT (TDLOAN/FLXLN)

  • Loan Details and Terms
    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.