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Advance Against Securities

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Advance Against Securities

Against National Savings Certificates (NSC) / Kisan Vikas Patra (KVP)

Nature of facility

  • Demand / Term Loan
  • Overdraft

Margin

  • 15% of face value of NSC /KVP ( if residual maturity period is less than 3 years)
  • 20% of face value of NSC /(KVP) ( if the residual maturity period is 3 years and above)

Amount of advance

  • Minimum Loan : Rs.3000/-
  • Minimum Overdraft: Rs.20,000/-

Repayment of loan in easy EMIs.

Advance Against the security of Life Insurance Policies

Nature of facility

  • Demand / Term Loan
  • Overdraft

Margin

  • 15% of surrender value, if the insurance policy is maturing within a period of less than 3 years
  • 20% of surrender value, if the residual maturity period is 3 years and above.

Amount of advance

  • Minimum Demand Loan : Rs.3000/-
  • Minimum Overdraft : Rs.20,000/-

Repayment Period

Demand Loan : Maximum 60 EMIs subject to maturity date of policy.

Advance Against the security of Relief Bonds/Government Bonds eligible for bank finance and not restricted from availing Bank Finance

Nature of facility

  • Demand / Term Loan
  • Overdraft

Margin

  • 15% of face value - if residual period of Relief Bonds is up to 3 years
  • 20% of face value - if residual period is over 3 years

Amount of advance

  • Minimum Loan : Rs.3000/-
  • Minimum Overdraft : Rs.20,000/-

Repayment of loan in easy EMIs.

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