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