Objective

• To Provide loan against Fixed Deposits.

Type of Assistance

• Any individual or institution.

Permissible Loan Amount

• 90% of the pledged Fixed Deposit Receipt.

Interest Rate

• +2 (Per Annum) Whichever is high.

Security

• Pledge of Fixed Deposit Receipt.

Tenure

• Depends upon the maturity of the Fixed Deposit.

Repayment

• Interest payment on quarterly basis and principal payment upon maturity.

Documentation:

• Loan Agreement Paper
• Letter of Lien
• Promissory Note
• Internal Loan Commitment Paper