The Indian Bank provide Loan / OD against Deposits.

Loan / OD against Deposits

Eligibility Term Deposit Holder of our Bank

Amount of Loan 90% of accrued value of deposit

Margin 10% on accrued value of deposit.

Interest Rates 2% over the applicable rate for the Term Deposit pledged.

Repayment Flexible.
Maximum upto date of maturity of deposit.

Security Pledge of Term Deposit.]

Salient Features For any bankable purpose.

OD against NSC

Eligibility All properly introduced individual customers, whose capacity to service the loan and interest is appraised.

Amount of Loan

LOAN: This facility is given with a minimum limit of Rs.10,000/-

OD:This facility is given with a minimum limit of Rs.2,00,000/-
Margin 25% of the interest accrued value of NSC / KVP / RBI Relief Bond / Surrender value of LIC Policy.

Processing fee - 0.306%of loan amount with Minumum of Rs.306/-

Repayment - Maximum : 5 years (for loan against NSC/KVP/RBI Relief Bond). 6 years (for loan against LIC Policy).

Security - Pledge of NSC / KVP / RBI Relief Bonds / Assignment of LIC Policies.

Documents to be submitted for processing the application

Salary Certificate / IT Return copy for assessing the capacity to service the interest / instalment.

Original NSC / KVP/ RBI Relief Bond / LIC Policy.

Salient Features -

Can avail Loan against NSC/KVP/Relief bonds of RBI/LIC policies to meet any expenses

Contact-

Corporate Office - Postal Address

Indian Bank, Corporate Office,
PB No: 5555, 254-260, Avvai Shanmugam Salai,
Royapettah, Chennai - 600 014

Corporate Office - Phone Number
044 28134300