Loan against Paper security


Purpose Personal consumption as well as Business needs.
Eligibility Individual, Firm (Proprietary / Partnership), (Pvt. / Public Ltd. Company).
Maximum Loan Amount Minimum: ₹ 25,000/-
Maximum: Up to Bank’s exposure limit & MARGIN
Margin For Paper Securities :
@10% margin on face value of NSCs/KVPs if above 3 years and @20% for Other, & for Surrender value of Life Insurance Policy @10%.
[Monthly Interest servicing is a must to maintain the margin.]
Repayment Period 1] Term Loan:
Maximum 60 months or residual period of maturity whichever is shorter.
2] Overdraft- 12 months, subject to Annual review. (subject to maturity date of securities)
Rate of Interest Upto ₹ 5 lacs : 12.50% Above ₹ 5 lacs :11.90%
Security i) Pledge of NSCs / KVPs duly discharged.
ii) Assignment of Life Insurance Policies
iii) Letter of Appropriation.
Guarantators NOT REQUIRED
Letter of Appropriation-duly stamped*- if Security is of Third party, *[as per prevailing stamp duty act, subject to change as per Govt. Notification]
Collaterals NOT REQUIRED
Processing Charge Upto ₹ 5 lacs : 0.75% Above ₹ 5 lacs :0.40%
Subscription of Bank's Share ₹ 1000/-
Pre-payment Charges NO PREPAYMENT CHARGES

Terms & Conditions Apply.
Visit nearest branch for more details.


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