Shopin

LOAN /SECURED OVERDRAFT AGAINST GOVT. SECURITIES

  • PURPOSE

    The amount can be used for any purpose.

    MAX. AMOUNT

    A Loans
    a) Loan against NSC

    up to 2 year old - 70% of accrued value.
    Above 2 years to 4 years old - 75% of accrued value
    Above 4 years - 85% of accrued value.

    Loan & SOD against LIC Policy - 90% of surrender value.

    Loan against KVPs - 90% of accrued value.

    SOD against NSC/KVP - 80% of accrued value.

    Note : Loan against KVP ( encashable after two and half year).

    REPAYMENT

    For Loans:-
    Maximum 60 installments for loans or co-terminus with maturity period whichever is earlier.

    Secured overdraft:-
    Three years.

    ROI Click here

     

    MEMBERSHIP

    Up to 1 Lakh - Nominal Membership

    Above 1 Lakh - Regular Membership

    As per extant Shareholdings Norms

    PRIME SECURITY

    Assignment & Pledge of NSC, KVP & LIC Policies.

    SERVICE CHARGES - As per Service Manual Charges.

    OTHERS

    • Certificate standing in the name of a minor will not be accepted as security.
    • Loan/SOD against LIC, will be considered only against policy issued by LIC of India in applicant's name only.