The loan is provided to eligible individuals to meet various personal expenses against Fixed deposits. Amount can be used for any Purpose, against security of Bank’s own FDR’s.
- FRD receipts need to be shown while taking loan
- 2 Photographs of Applicant
- Account holder need to open saving account with the bank, If not Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one) As per KYC norms
- Applicant has to show all original documents to the bank for verification with xerox copy.
Terms and Conditions
- FDR’s should be in the name of Applicant. In case of third party FDR, NOC from third party required for loan.
- Repayment is on or before due-date of FDR’s,
- Upto 80% of Fixed Deposit.
- Lien on Bank’s Term deposits is security
- Rate of Interest would be as per Bank’s Management Loan policy