Loans against Term Deposits

Salient Features	Meeting domestic expenses.
Eligibility	Term Deposit Holder of our Bank.
Quantum of Loan	90% of accrued value of deposit.
Tenure	Residual maturity period of Deposits
Repayment Mode	In one lum sum on or before the date of maturity of deposit or by adjustment of deposit amount.
Rate of interest	2% over the applicable rate for the Term Deposit pledged.
Security	Pledge of Term Deposit Receipt duly discharged by the borrower.
Release of Loan Amt	Execution of prescribed document by the borrower. Creation of charge in favour of the Bank on security.

For Customers Knowledge
Amendment to Section 194N w.e.f. 01st July 2020
THE RESERVE BANK – INTEGRATED OMBUDSMAN SCHEME – 2021
Please make your account KYC compliant
Please link your Aadhar number to your account.
Please update your passbook atleast once in 3 months
Mention your PAN in the challen where remittance amount is Rs. 50000/- and above
Use RTGS/NEFT facilities for your remittances
Please keep updated your Address and Phone number with the bank for timely communications.