Advance against pledge of own F.D.R./M.R.D./Suvidha/Daily Deposit
A/c will be allowed @ maximum 85% of the value or at such other rates
fixed from time to time by the Bank
The rate of interest will be 2% more than the rate paid on FDR/MRD
and @ 12% p.a. in case of loan against Daily Deposit A/c. However, the
Bank reserves the right to change the rate at any time during the
currency of the loan, at its discretion without giving prior notice.
Interest will be payable every month
Overdrafts against pledge of own Deposits may also be allowed upto
85% of the value or at such other rates fixed from time to time by the
Bank. The rate of interest will be 2% more than the rate applicable to
the deposit and @ 12% in case of Overdraft against Daily Deposit A/c.
However, such rate is liable to be changed by the Bank at any time
without prior notice
Loans/Advances may also be granted on the security of third party
deposits, upto the limits specified above. However, interest shall be
charged on such loans/advances at rates applicable for other secured
loans
