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  #1  
January 27th, 2018, 01:34 PM
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Overdraft Facility In State Bank Of India

I am customer of State Bank of India and searching for details about the Overdraft Facility In State Bank Of India. Will you provide basic details about Overdraft Facility In State Bank Of India along with advantages and eligibility to apply for this facility also tell Interest Rate?
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  #2  
January 27th, 2018, 01:35 PM
Super Moderator
 
Join Date: Mar 2012
Re: Overdraft Facility In State Bank Of India

State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra

SBI loan against time deposit:

SBI Advantage:

Avail Loan up to 90% of the value of your Time Deposit
Both Demand Loan and Overdraft Facility as per your need
Low interest rates. Further, we charge interest on a daily reducing balance!!
Zero processing charges;
No prepayment penalties.

Eligibility :
Customers (Single/ Joint Account Holder) holding SBI’s TDR/STDR / RD / including NRE/NRO/RFC and FCNR(B) Deposits can avail this loan. Single Account Holder can also avail Overdraft against TDR and STDR online through Internet Banking platform

Amount of Loan (For Online Overdraft against Fixed Deposit)
Min: Rs 25000
Max: Rs 5 Crore

Margin : Avail loan up to 90% of your Time Deposit value

Security Lien on underlying Time Deposit

Repayment Period :Suitable repayment schedule will be fixed depending upon the repayment capacity of the borrower for Loan taken through Branches. Maximum Repayment period has been capped at 5 years against STDR/e-STDR and 3 years against TDR/e-TDR respectively for Overdraft availed online.

Type of loan : Demand Loan& Overdraft

Channels: Internet Banking and Branches

Processing fee: NIl

Interest Rate: 1% above the relative time deposit rate

Contact:

State Bank of India
State Bank Bhavan, Madam Cama Road
Mumbai-400021.

SBI Office Phone Number: +91-22-22029456
SBI Office Fax Number: +91-22-22742431


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