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Overdraft on 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

Amount of Loan

75% of the face value of the deposit or 75% of prinicipal+ to the date of sanction of loan, whichever is higher. There is no maximum of limit

Margin

25% of the deposit value

Rate Of Interest

2% 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 deposit if not submitted earlier while making deposit

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