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NRI Banking

Loan against term deposits

  • Loan to depositor: 90% of the book value of the deposits with interest at 1.00% above the deposit rate
  • Loan to third party: 85% of the book value of the deposits with interest at 2.00% above the deposit rate or commercial rate which ever is lower.
  • Maximum amount : Rs. 50,00,000 per depositor
  • The loan can be granted for all genuine purposes excluding the purposes of agriculture/Plantation activities and for re-lending.
  • Repayment of the loan should be out of inward remittances from abroad/transfer from existing NRE/FCNR Deposits, else the commercial rate of interest would be applicable.
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