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Deposit Loans


Eligibility:

The proponent should be the depositor of the Bank.


Primary Security:

Pledge of the duly discharged term deposit receipt by all the joint holders of the deposit.


Collateral Security:

No collateral security is required


Amount of Loan:

85% of the face value of the deposit i.e.85% of principal of the depositat the time of opening,There is no maximum limit.


Margin:

15% of the deposit value.


Rate of Interest:

Loan against Bank Term Deposits: 1% over the interest payable on term deposit.


Tenure of Loan:

Remaining period of maturity of deposit.


Contribution to Share Capital:

Nil.


Processing charges:

Nil.


Other charges:

Nil.


Required documents:

Duly discharged deposit certificate & KYC documents of depositor if not submitted earlier while making deposit.


Application Form:

Download Application Form