Loan / OD against NSC / KVP / Relief bonds of RBI / LIC policies
|Eligibility||All properly introduced individual customers, whose capacity to service the loan and interest is appraised.|
|Purpose||For any permitted bankable purposes such as Trade, Housing, Profession,
Personal consumption and educational purposes etc
|Quantum of Loan||1) LOAN: This facility is given with a minimum limit of Rs.10,000/-
2) OD:This facility is given with a minimum limit of Rs.2,00,000/-
|Margin||25% of the interest accrued value of NSC / KVP / RBI Relief Bond / Surrender value of LIC Policy.|
|Rate of Interest||Please refer to the Lending Rates link on home page of our Bank’s website|
|Processing fee||0.308%of loan amount with Minumum of Rs.308/-|
|Repayment||Maximum : 5 years (for loan against NSC/KVP/RBI Relief Bond). 6 years (for loan against LIC Policy).|
|Security||Pledge of NSC / KVP / RBI Relief Bonds / Assignment of LIC Policies.|
|Documents to be submitted for processing the application||1. Salary Certificate / IT Return copy for assessing the capacity to service the interest / instalment.
2. Original NSC / KVP/ RBI Relief Bond / LIC Policy.
( Last modified on Apr 05, 2019 at 02:04:28 PM )