Loans & OD against FD/RD/DD

For priority sector lending purposes or for any other purpose which is not speculative.

Interest RateFD/RD Rate + 1% p.a.

Maximum AmountNo Maximum Limit

Maximum TenureUp to 60 Months or Deposit Maturity (Whichever is Earlier)

Key Highlights

Loan and overdraft facility against FD/RD

No maximum loan limit

Lower interest compared to unsecured loans

Interest charged at only 1% above FD/RD rate

No penal charges

Quick and simple processing

Members and non-members of the bank are eligible.

Loan can be availed against own deposits or third-party deposits.

In case of minor's deposit, loan amount must be used for the benefit of the minor.

No overdraft facility is permitted against minor's deposits.

KYC documents of the borrower.

Original Fixed Deposit Receipt or Recurring Deposit Passbook.

Duly discharged deposit receipt/passbook with revenue stamp.

Consent and discharge of all joint depositors where applicable.

Letter from depositor in case of deposits in minor's name.

Pledge of Fixed Deposit Receipt or Recurring Deposit Passbook duly discharged by the depositor(s).

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Processing Fee

NIL

Visit the branch or call us for more details.