ISO 9001:2015 Certified Bank (Certificate No. HQM153920)

Loan against Paper security

Purpose: Personal consumption as well as Business needs.

Interest Rate 10.50%

Loan Limit

Maximum: Up to Banks exposure limit & Margin

Loan tenure

  1. Term Loan: Maximum 60 months or residual period of maturity whichever is shorter.
  2. Overdraft: 12 months, subject to Annual review. (subject to the maturity date of securities)

Security

  • Pledge of NSCs / KVPs duly discharged.
  • Assignment of Life Insurance Policies
  • Letter of Appropriation.

Other Details

  • Margin: For Paper Securities @25% Margin on face value of NSCs/KVPs and 25% Margin of Surrender value of Life Insurance Policy [Monthly Interest servicing is a must to maintain the Margin.]
  • Guarantors: Not Required.
  • Eligibility: Individuals
  • Pre-Payment Charges: NIL

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