Against Fix Deposits

Eligibility of borrower  • Applicant must have his Bank’s own fixed deposit in his name.
Purpose of Loan          Any purpose.
Quantum of finance and margin
Loan   Overdraft
85% Percentage of the Amount of FDR or Less 90%
15% Margin Money 10%
Repayment period         Till the date of maturity of fixed deposit or as per  Discretion of Bank
Rate of Interest              1% over FDR Rate of Interest. In case of third party FDR, 3% over FDR Rates.
Security:  Lien marked of fixed deposit and pledged with the Bank.
Documents 1.       DP Note duly signed by Depositors.

2.       FDR duly discharged by the Depositors.

3.       Letter of Appropriation signed by the depositors.

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

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