Features
♦ Loan upto 85% to 90% of the Book Value. Disbursement same day.
♦ Rate of Interest 2% over and above the rate applicable on FDR, If the loan amount is upto Rs 5.00 lakhs and 1 % if the loan amount > Rs 5.00 lakhs against owned FDR.
♦ Rate of Interest 2.50% more if the FDR is of third party irrespective of loan amount + Processing Fee
♦ LOAN AGAINST LIC POLICIES :
♦ Loan upto 85% of Surrender Value
♦ Disbursement after assignment.
Eligibility
♦ Loan against Bank’s FDR’s only against simple documents.
♦ Loan against live LIC policies against simple documents, but after assignment.
Required Documents
♦ LOAN AGAINST FDR’s:Simple documents like D.P. Note, D.P. Delivery Letter, Letter of Appropriation, etc.
♦ LOAN AGAINST LIC POLICIES: D.P. Note, D.P. Delivery Letter, After receipt of Assigned policies from LIC.