AGAINST GOVT. SECURITIES

Eligibility of borrower  • Applicant must have certificate of NSC / KVP / Life insurance policy in his own name.

• Applicant must be a member / nominal member of the Bank
Purpose of Loan          Any personal requirement.
Quantum of finance and margin
Loan   Overdraft
60% of  Principal  Amount of NSC / KVP 60%
60% of Surrender Value of LIC Policies 60%
40% Margin 40%
Repayment period         ·         36 to 60 Months.

·         12 Months in case of overdraft subject to annual review.

·         Interest on Loan should be repaid every Month or repayable in EMI or bullet payment.
Rate of Interest             
Loan 10.50%
Over Draft 11.00%
Security: ·         Lien marked certificate of NSC / KVP by the issuing post office in favour of the Bank and to be pledged with the Bank. Money receipt to be deposited with Bank for lien marked charges from the post office.

·         Insurance policy to be assigned to the Bank through respective insurance company, borrower must pay insurance premium to insurance company every year regularly.
Documents 1.       NSC / KVP / Insurance Policyસામે લોન / ઓવરડ્રાફ્ટ માટે નું ફોર્મ કમ બાહેધરી પત્ર

2.       DP Note duly signed by Depositors.

3.       Letter of Pledge & Take Delivery Letter

4.       Letter of Appropriation signed by the depositors.

5.       DP Note signed by the firm in case of OD granted to the firm.

6.       In case of an overdraft, letter of continuity signed by depositors / borrowers.