| Eligibility of borrower |
- Having current / saving account holder of the Bank.
- Applicant must have his own fixed deposit.
- Applicant must be a member / nominal member of the Bank
|
| Purpose of Loan |
- Any personal requirement.
|
| Quantum of finance |
- 90% of principal amount of fixed deposit including accrued interest thereon.
|
| Repayment period |
- 12 months or till the date of maturity of fixed deposit as per Discretion of Bank
- Interest on loan should be repaid every month.
|
| Rate of Interest |
- FD Rate + 1.00%
- or as per directives of Reserve Bank of India, from time to time
|
| Security: |
- Lien marked of fixed deposit and pledged with the Bank.
|
