🏦 Loan Against F.D.R
Loan against F.D.R is provided to eligible individuals to meet various personal expenses against Fixed Deposits. Amount can be used for any purpose against the security of Ahilyanagar Zilla Prathamik Shikshak Sahakari Bank Ltd. FDRs.
Applicant Details
- Rate of Interest – 2% extra than Fixed Deposit rate
- FDR receipts need to be shown while taking a loan
- Account holder must have a Savings Account with the bank.
- If no account exists, applicant must open one and provide Photo Proof – PAN Card / Voter Card / Driving License / Aadhaar Card (any one) as per KYC norms.
- Applicant has to show all original documents to the bank for verification along with Xerox copies
Terms and Conditions
- FDRs should be in the name of the Applicant. In case of third-party FDR, NOC from the third party is required for the loan
- Repayment is on or before the due date of the FDRs
- Loan can be granted up to 80% of the Fixed Deposit
- A lien on the Bank’s Term Deposits is taken as security
- Rate of Interest will be as per the Bank’s Management Loan Policy
