Demand Loan against deposits

DEMAND LOAN AGAINST DEPOSITS

DLO allows members of the society to avail loan against Term Deposits without breaking the Term Deposit. There is no need to liquidate your investments even during dire necessities. Loan or advance shall be allowed against Term Deposit with the Society up to 90% of the deposit amount and margin of not less than 10 percent of the deposit amount need to be maintained.

•  Maximum amount : Up to 90% of the value of your Term Deposit

•  Interest rate : 1.00 % above the relative Term deposit rate

•  Repayment period : Maturity date of Term deposit

•  Security Lien on underlying Term Deposit

•  For Recurring Deposits, Loans up to 85% of the deposited amount available

•  Zero processing charges

•  Available at all branches

•  No Prepayment penalties