Loan Account

Deposit Loan
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Loan Against Term Deposit

Loan against Term Deposit is a secured loan, where you can pledge your deposit as collateral without having to liquidate your deposit in return of the loan amount. A lien is marked on the deposit when loan is granted. Avail up to 75% to 90% of the value of the deposit without losing out on interest and paying penalty for breaking the deposit. Rate of interest for loan shall be 1% higher than the rate of interest payable on deposit. The tenure for the repayment cannot exceed the tenure of the deposit. The loan amount and interest will be recovered on the maturity of the deposit.

Features & Benefits

  • Minimum documentation.
  • Quick processing and flexible repayment option.
  • No Sureties required.
  • Loan against Deposits can be availed on Fixed Deposit, Daily Deposit, Recurring Deposit.
  • Maximum up to 75% of the deposit value.

Eligibility

  • An Individual in his / her name
  • More than one person jointly
  • A Guardian on behalf of minor in the minor’s name
  • Club / Association / Trust

Documentation

  • Application Form
  • Fixed / Term deposit duly discharged in favour of banks
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