This Facility is made available to the existing depositors on which 90% is available Loan against the FDR. Applicable rate is 1% more than rate of interest on fixed and will be sanctioned and disbursed on the same day without any surety.

Eligibility

1. Original Fixed Deposit receipts are to be produced on the counter for availing such facility.

Documents Required

1. Promissory Note.
2. Duly filled loan application Form for Loan against FDR issued by the bank.
3. Original Fixed Deposit receipts.

Limit

1. 90% of fixed deposit amount.

Repayment Period

1. Repayment should be made before maturity or loan amount will be recovered from maturity proceeds.

Rate of Interest

1. 1% p.a. more than applicable rate of interest on Fixed Deposit.

Security

1. Original Fixed Deposit Receipt.