हिंदी वेबसाईट

Loan/Overdraft Against Bank's Term Deposit (Including Recurring Deposit)

Eligibility
  1. The Depositor himself if the receipt stands in his single name
  2. All the Depositors or any of them with authority from all depositors when in joint names payable to Either or Survivor/Former or Survivor
  3. Natural/Legal Guardians when the deposit is in the name of minor
  4. Proprietor in his personal name when the deposits stands in the name of his Proprietary Concern and Vice-a-versa
  5. Partnership firm when deposit is in the name of firm/in the individual name of the partner of a firm. The loan should not be given to a partner in individual name if the deposit receipt is in the name of his firm.
  6. Third parties with authority from the Depositors
  7. Survivor alone if all the depositors have given mandate at the time of opening of deposit account
  8. Limited Company with Board Resolution. No charge needs to be registered with Registrar of Companies (ROC)
PurposePersonal exigencies/Business/Profession
AmountMaximum 90% of the face value of the Deposit and with accrued interest in case of Re-investment Deposit.
Margin
Repayment- On demand or on maturity of the deposits.
- In case of loan against monthly / quarterly deposits, interest shall be credited to the loan account.
- This may be waived if sufficient margin is maintained.
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