Shopin

LOAN /SECURED OVERDRAFT AGAINST GOVT. SECURITIES

  • PURPOSE

    The amount can be used for any productive purpose.

    MAX. AMOUNT

    A Loans
    a) Loan against NSC/RBI bonds

    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 against LIC Policy/KVPs - 90% of surrender value.

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

    SOD against LIC - 90% 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 Lac - Nominal Membership Rs.100/-

    Above 1 Lac - Regular Membership As per extent Shareholdings Norms

    SURETY

    Nil

    PRIME SECURITY

    Assignment & Pledge of NSC, KVP & LIC Policies.
    In case of RBI Bond, it should be transferred in our Bank’s name

    SERVICE CHARGES
    • For Loans:-
      0.60 % (minimum Rs.100/- and maximum Rs.1000/- + applicable GST
    • For SOD:-
      0.60% (minimum Rs.100/- and maximum Rs.1000/-.) + applicable GST
    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.