Loan Against Security

Facility Tenure

• Overdraft facility is granted for 12 months. This is reviewed and renewed at annual rests.

Penalty for early closure

• Nil.

Other Conditions

• Bank reserves the right to reject any application / renewal without assigning reasons thereof. It shall be the sole right of the Bank to consider the proposal on case to case basis after taking into consideration, the credentials/credit worthiness of each of the customers
• No loan under this scheme is granted for investment in capital market instrument or for speculation purpose
• The overdraft facility shall be disbursed / renewed only after all the required documentation and pledge creation formalities are complete.
• The margin requirement will be reviewed regularly. In event of any volatile fluctuations in the prices of the units, the client shall make good the shortfall, if any, within four days, failing which the security will be enforced.
• The applicant will undertake to inform the Bank as and when there is a change in address or employment