|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||85% 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||
Up to Rs. 50 Lakh FD Rate + 1.00%
Above Rs. 50 Lakh and Up to Rs. 5 Crore FD Rate + 0.50%
Above Rs. 5 Crore FD Rate + 0.25%
or as per directives of Reserve Bank of India, from time to time
|Security:||Lien marked of fixed deposit and pledged with the Bank.|