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OD against NSC, KVP, LIC

For purposes under priority sector lending or for any other purposes which are not speculative.

Interest RateAs applicable to corresponding Term Loan against the pledged / assigned security
Maximum AmountSubject to maximum limit prescribed for Term Loans against the respective securities
Maximum TenureUp to maturity of the last maturing security
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Key Highlights

Overdraft facility against financial securities
Margin and limits aligned with corresponding term loan rules
Bank-managed charge registration
Limit reduces automatically on maturity of securities
Applicable to NSC, KVP, LIC Policy, and similar securities

Eligibility Criteria

Nominal Member or Regular Member.
Borrower must already have an account with the Bank.
Borrower should be employed or having sufficient business income to pay interest.
In case securities stand in the name of third parties, consent letter must be obtained.

Documents Required

KYC documents of the borrower.
Original security documents (NSC / KVP / LIC Policy, etc.).
Consent letter in case of third-party securities.
Assignment / pledge documents as applicable.

Security & Fees

Collateral / Security

NSC, KVP, LIC Policy, or other acceptable securities pledged or assigned in favour of the Bank with charge noted with the issuing authority or transferred in the Bank's name.

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Processing Fee
As per prescribed Bank's Service Charges.
Check fees and charges

Visit the branch or call us for more details.