Loan/Overdraft Against Bank’s Own Deposit (Labod/Odbod)

Benefits
Features
Eligibility Criteria
Document Required
Interest rates & charges
Most Important Terms & Conditions (MITC)

Loan/Overdraft Against Bank’s Own Deposit (Labod/Odbod) : Benefits

Nil Processing Charges
Loan is provided upto 90% of the Face Value or Book value
No maximum Loan limit
Nil Pre payment Charges

Loan/Overdraft Against Bank’s Own Deposit (Labod/Odbod) : Features

Nature of Facility: Demand/ Term Loan / Overdraft

Period of Loan: On or before maturity period of FDR

Loan/Overdraft Against Bank’s Own Deposit (Labod/Odbod) : Eligibility Criteria

Any individual with self-declaration/Proof that he is engaged in Agriculture Activities/ the proceeds of LABOD/ODBOD will be used for Agriculture purpose

Loan/Overdraft Against Bank’s Own Deposit (Labod/Odbod) : Document Required

KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
FDR/SDR

Loan/Overdraft Against Bank’s Own Deposit (Labod/Odbod) : Interest rates & charges

Product	Effective Rate of Interest
Loan/OD Against Banks Own Deposits (LABOD/ODBOD)	1.00% over Interest Rate on Fixed Deposit
Advance Against the securities of third party FDRs (against Resident Deposits)	1.00% over Deposit rate Or BRLLR + SP + 0.50%, whichever is higher.

Processing Charges: Nil

Loan/Overdraft Against Bank’s Own Deposit (Labod/Odbod) : Most Important Terms & Conditions (MITC)

Quantum of Loan	90% of the Face value or Book value whichever is higher
Loan Period	Loan period will be on or before maturity period of FDR
Repayment	Bullet payment
Maximum Loan Amount	No maximum limit stipulated
Margin	10% against duly discharged fixed/short deposit Receipts of all tenors
Rate of Interest	Rate of interest for public/ senior citizens is 1.00% over Interest Rate on fixed deposits on any amount of deposits. Rate of interest third party FDRs is 1% over Deposit rate or MCLR + SP+ 0.25% whichever is higher.
Other Informations	No advances to be granted against a term deposit on the same day on which it is issued Processing Charges: Nil Loan to be granted from the same branch in which FD account is opened. No loans will be considered against FDR/SDR in the name of minor No loans will be considered against any other deposit i.e Recurring Deposit/ Yatha Shakti Jama Yojana.