Loan Against Deposit

You can avail loan against your deposit if your credit score is low, you do not meet the income eligibility criteria, or if you have no other assets to pledge for a secured loan. The interest rate on such loans range between 1% and 2% above the FD rate and can be repaid in up to 60 months. These loans are usually given in the form of an overdraft or demand loan.

Features:

• Avail Loan up to 85% of the value of your Time Deposit
• Both Demand Loan and Overdraft Facility as per your need
• Low interest rates. Further, we charge interest on a daily reducing balance!!
• Minimum processing charges;
• No prepayment penalties.
• Min mount of Loan (For Online Overdraft against Fixed Deposit) : Rs 5000/-
• Max mount of Loan (For Online Overdraft against Fixed Deposit): Rs 50000/-
• Margin : Avail loan up to 85% of your Time Deposit value
• Security Lien on underlying Time Deposit
• Type of loan : Demand Loan& Overdraft
• Processing fee: Nil
• Interest Rate: 1.5% above the relative time deposit rate

Document:

• The Loan Against Deposit helps you maintain your deposits and available of cash for your requirements.
• Duly filled application form
• Fixed / Term Deposit receipts(BOND) duly discharged in favour of the ROORKEE PARIVAAR NIDHI LIMITED.