Loan Schemes

  1. Schemes
  2. Loan Schemes

Loan/ SOD Facility against NSC/ KVP Life Policies Loan Application Form

Purpose:

Any legitimate business/ personal purpose except speculative/ prohibited purposes.

Eligibility:

• Individual/s: Known to the bank and having securities (NSC/KVP) in his/ her/ their own name.
• Firms/Companies: Known to the bank and having securities (NSC/KVP) in the name of key person/s.


Maximum Permissible Finance under the scheme

75% of present discounted value of the NSC/ KVP
Present value OR ‘Present discounted value’ is the current worth of a future sum of money or stream of cash flows given at a specified rate of return. [In this case, it shall be principal plus interest payable (on date of advance) which shall be confirmed by the branch from post office concerned.

Security:

Pledge of NSC KVP

Loan Processing Charges

Up to Rs. 50,000/- :   Flat Rs.250/-
Above Rs.50,000/- :   Flat Rs. 500/-

* Conditions Apply