LOAN AGAINST FIXED DEPOSIT

Objective: To Provide loan against Fixed Deposits.

Types of Assistance: Short Term.

Eligibility: Any individuals and institutions.

Permissible Loan
Amount: 90% of the pledged Fixed Deposit Receipt.

Interest Rates : Per Annum

Types of loan	Prime
Loan Against Fixed Deposit	+2.00%

 Based on minimum term lending rate fixed from time to time.
 Actual rate within the prevailing rate band depends upon creditworthiness of borrower and risk perception.
 Interest is payable quarterly.

Security: Pledge of Fixed Deposit Receipt.

Depends upon the maturity of the Fixed Deposit.

Repayment: Interest payment on quarterly basis and principal payment upon maturity.

Documentation:
 Loan Agreement Paper.
 Hypothecation Deed (Fixed Deposit Receipt).
 Promissory Note.
 Internal Loan Commitment Paper.
 Registration/Tax Clearance Certificates including (VAT).
 Articles of Association and Memorandum of Association.
 Loan Authorization Letter.