Secured Overdrafts (OD)
Facility: Overdraft Limit
Eligibility: Individual or Firms
Purpose:
Agricultural/Education/ Small Business/ Profession/any other to meet Short time Financial Requirements
Security
Lien on Fixed/Term Deposits
Rate of Interest: 2% Extra on Deposit Rate
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Loan Limit: Maximum Rs.100.00 Lacs
Max Loan period: 1 Year (subject to yearly renewal)
Repayment: Repayable on Demand
Interest method: Diminishing Method
Basic Documents:
» KYC documents of Borrowers and Guarantors.
» Fixed Deposit Bonds of our Bank.
Margin: Up to 90% of Deposit Value
Processing Fees: Nil
Terms & Conditions: As per Bank’s Loan Policy.