Accessibility Tools
Contrast
Text
Tools
Powered by Cleuz

Overdraft Secured

Manage your financial needs easily with our Secured Overdraft facility, offering quick access to funds with simple documentation and flexible repayment options against your assets.

Overdraft Secured Loan

Unlock liquidity against your Fixed Deposits with flexible overdraft facility

Overdraft Secured
Purpose

A type of secured loan where customers can pledge their fixed deposit as security and get a loan in return.

Eligibility
  • To be eligible for a loan against FD, the basic criteria is that you must hold a fixed deposit with the bank you are availing the loan
  • 90% of the fixed deposit amount will be sanctioned as Loan Limit.
  • Borrower / Partners / Directors / Guarantors must be a member of the Bank.
Document Required
  • Application form duly signed
  • Fixed/Term Deposit receipts duly discharged in favour of the bank
  • Duly signed agreement
  • Shop Act License

Rate of Interest

FD ROI + 1%

Third Party Loan = FD Loan + 1.50% p.a

Credit Co Operative Society = FD Loan + 0.50% p.a