Loan against Deposit Receipt - LIC/NSC / KVP/COMPANY DEPOSIT
An ideal way to maintaining liquidity while optimizing the returns of your invested funds.
Loan against Fixed Deposits is a facility offered by Maben to our members against your deposits held with us. For your liquidity requirements, avail 80% of the value of deposits held, without breaking the deposit.
You can avail a loan against the security of TDR / RD deposits/LIC/NSC/ KVP.
You need not close the deposit prematurely, and can avail the loan:
• At the branch where you maintain the deposit.
• As an overdraft or as a demand loan.
• For a maximum of 80% of the face value of deposit and including the interest accrued on the deposit.
• At an interest rate linked to Deposit Rate against TD/RD deposits.
Loan / OD against Deposits
Eligibility Term Deposit /Recurring Deposit Holder
Amount of Loan 80% of accrued value of deposit.
Margin 10% on accrued value of deposit.
Repayment * Flexible.
* Maximum up to date of maturity of deposit.
Prepayment charges Interest Rate:
2.5% over the contracted rate for the Term Deposit/Recurring Deposit pledged.
Security Pledge of Term Deposit/Recurring deposit Receipt./LIC/NSC/KVP
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