Loan Against Deposit

For Enquiry

Loan Against Deposit

Loans will be permitted on deposits for the remaining period of the deposit or one year, whichever is less, up to a specified percentage of the deposit amount. The interest rate will be a certain percentage above the interest payable on such deposits or any lower rate determined by the company from time to time (compounded monthly).

The outstanding loan, along with interest, shall be settled in one lump sum or adjusted automatically upon the maturity of the deposit.