How RD Xtra Gain is different from normal recurring deposit?
- Any time Loan after 12 months
- Quantum of loan fixed based on 5 years' future RD installments
- Relaxations in income proof documents
- Option to discontinue RD on availing the loan facility
- Only 6 prompt installments in RD is required for existing Retail customers with good repayment history and Average Monthly Balance.
- Customers need to remit only the same installment amount even after availing the loan
- Existing customers who have already remitted 12 installments promptly are also eligible.
- Supported by over 1000 branches
Who can apply?
- Minimum monthly RD installment - Rs.1000.
- Minimum period for which RD has to be started – 24 months.
- Prompt remittance of latest 12 installments in RD.
- Existing RD customers who have remitted 12 installments promptly are also eligible for the loan
How to avail the loan?
- Proof of Identity – Copy of Passport
- Recent Passport size photograph
- Address Proof
Repayment of the loan can be made as lump sum or as installments
- Age of the borrower shall not exceed 60 years or retirement age whichever is lower at the end of the loan tenor
- Maximum Loan amount- Rs. 5 Lakhs
- Maximum Loan period – 60 months
- Age of the borrower shall not exceed 60 years or retirement age whichever is lower at the end of the loan tenor.
- Co-obligancy of spouse is required.
- Prepayment Penalty Nil
- For loan amount up to & including 1 lakh, Co-obligancy /guarantee of 2 persons is required.
- For loan amount above 1 lakh, Collateral security is required.