Purpose
To provide liquidity or meet urgent financial needs by availing loan against
- Bank Term Deposits (FDs)
- NSC/KVP
- LIC Policies
Eligibility
- Individuals having valid term deposits/NSC/LIC
- Must be the rightful holder of the security
Limit
Up to 95% of the value of the security
Security
Lien/Assignment/pledge on the Term Deposit, NSC/KVP or LIC policy
Repayment
Repayable on demand or in EMI (depending on agreement)
- Tenure usually does not exceed maturity date of the security
Rate of Interest
- 1% above the deposit interest rate of FD
- For loan against NSC/KVP/LIC: 10.40% to 10.90%*
Charges
