Loan Against Securities
Loan against securities allows you to pledge your securities viz. bank deposits, NSCs, KVPs, IVPs and LIC policies and get a loan against them. So when in financial need don’t liquidate your securities but get a loan against them.
Purpose
- For meeting all types of financial needs except speculative and illegal purposes
Who Can Borrow
- Individuals, Business organizations
Loan Amount
- Loan against FDRs of our bank – 85% of the face value besides accrued interest*
- *Can be raised to 95 % at bank’s discretion
- Loan against Government Securities viz. NSCs, KVPs, IVPs and LIC policies – : 80% of the face value of instrument besides accrued interest. In case of LIC policy/policies 80% of the surrender value
Nature Of Facility
- Loan
- Overdraft
Margin
- Loan against FDRsof our bank – Minimum 15 %*
- *Can be reduced to 5 % in deserving cases
- Loan against Government Securities viz. NSCs, KVPs, IVPs and LIC policies – 20 %
Security
- Fixed deposits of our bank
- NSCs, KVPs, IVPs and LIC policies
Rate Of Interest
- The rate of interest as decided by the bank from time to time would be applicable
Guarantor
- Nil
Processing Charges
- Nil