Purpose
Any personal/lawful needs
Loan Amount
Loan against Indian rupee deposits – 90% of present value
Loan against FCNR (B) deposits - 75% of the rupee equivalent of the deposit at TT buying rate prevailing on the date of advance
NRIs can have only a maximum loan of Rs 100 Lakhs (against NRE & FCAB deposits)
Loan against Insurance policy – 90% of surrender value
Loan against other securities - based on the year of purchase, issue value & date of loan
NSC– 65% to 135%
KVP – 55% to 175%
IVP – 60 % to 75%
Govt. & RBI Non-cumulative bonds – 25%
Govt. & RBI cumulative bonds – 70% to 100% Bank & FI bonds – 70% to 75%
Eligibility
Duly identified individuals/firms/trusts/companies etc
NRIs & Members of Staff
Available only in the name of persons holding the securities
If the securities are jointly held, the loan shall be granted in joint names. (Stock brokers will not be granted loan under the Scheme)
Margin
Indian rupee deposits – 10%
FCNR (B) – 25%
Period
72 Months (Maximum)
Maximum period shall not exceed the remaining maturity period of the security.
Rates & Charges
Please refer rates & charges page
Repayment
Principal amount - Lump sum payment
Monthly interest service is mandatory
Co-obligants
Not required