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  ABHYUDAYA CO-OPERATIVE BANK LTD.
  MULTI STATE SCHEDULED BANK
   

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Monday, 11-Dec-2017  07:29:56 AM
 
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Loan/ Overdraft against Banks Own Term Deposit (LATD/FLXLN)
 
PURPOSE Amount can be used for any Purpose, against security of Bank's own FDR's (Term Deposits).
MAX. AMT 90% of accrued value.
ELIGIBILITY FDR's (Term Deposits) should be in the name of Applicant.
In case of third party FDR, NOC from third party required for loan.
REPAYMENT Co-terminus with due-date of FDR’s,
RATE OF INTEREST
In case of Own FDR's (Term Deposits):- 1% more than FDR ROI
In case of Third party FDR's (Term Deposits):- 2% more than FDR ROI
MEMBERSHIP Not required.
SURETY Not required.
SECURITY Lien on Bank's Term deposits
SERVICE CHARGES NIL
SHARE LINKAGE NIL
OTHERS
  • Loan is sanctioned against Term deposit to Proprietorship firm, Partnership firm, Ltd., Liability Partnership firm or Pvt. Ltd. Company and if the said Term Deposit are in personal name of the Proprietor/ Partner/ Director it will not be treated as Third Party facility and ROI applicable will be 1% above TD interest rate.
  • The FLXLN facility will be allowed against Term Deposit of our bank, excluding ATSS/Recurring Deposits /DDS.
  • Periodical Interest on QID/MID schemes will be credited to Loan/FLXLN account.
  • In case of advance against various deposits receipt with different ROI we charge differential interest rate slab wise depending on outstanding balance or Limit availed in ascending order.
 
 
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arrow    BANK's POLICY (click Here)