Loan Against Paper Securities
Pledge your Kisan Vikas Patra (KVP) / National Savings Certificate (NSC) / Life Insurance Policy (LIC) as security and obtain loan against them.
Purpose :
- To meet personal / family expenses in case of any exigencies
- To meet finance-gap in business or any legitimate purpose acceptable to the bank
Eligibility :
- Salaried employees
- Businessmen
- Self-employed
- Professionals having regular source of income
- Firm (proprietary / partnership / limited liability partnership)
- Private / public limited company
Quantum :
- Subject to bank’s exposure limit
Type of Facility :
- Term loan
- Overdraft facility
Tenure :
- In case of regular loan against paper securities :
- Maximum 5 Years or residual period of maturity whichever is lower
- In case of overdraft facility against paper securities :
- 1 Year, subject to annual review (monthly interest servicing would be must)
Documentation :
- In case of new customer, applicant & guarantors need to open savings / current account
- KYC documentation as per RBI guidelines, including proof of identity & address proof of applicant
- Duly filled & signed loan application form
- Kisan Vikas Patra (KVP) / National Savings Certificate (NSC) / Life Insurance Policy (LIC)
Security :
- Kisan Vikas Patra (KVP) / National Savings Certificate (NSC) in the name of the applicant to be pledged and duly discharged
- Assignment of Life Insurance Policies
ROI :
- Please click here to know about latest ROI & Service Charges.