• Home Loan
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Personal Loans
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Personal Loans

We grant Rupee loans to NRI customers against:-
  • Security of funds held in NRO Term Deposits and
  • Security of funds held in NRE Term Deposits, FCNR (B) Deposits.
  • Against the security of shares or other securities held in the name of the borrower.
Please note that-
  • The loan shall be utilized for meeting the borrower’s personal requirements or for his own business purposes; and
  • The loan shall not be utilized, for any of the activities in which investment by persons resident outside India is prohibited namely;
    • Business of chit fund,
    • Nidhi Company.
    • Agricultural or plantation activities or in real estate business (excluding development of township, construction of residential/commercial premises, (roads or bridges), construction of farm houses;
    • Trading in Transferable Development Rights (TDRs).
    • Investment in capital markets including margin trading and derivatives.
  • The Reserve Bank’s directives on advance against shares/securities/immovable property shall be duly complied with.
  • The loan amount shall be credited to NRO account of the borrower.
  • The loan amount shall not be remitted outside India.

Repayment

 

  • Repayment shall be made by fresh inward remittances from outside India through normal banking channels.
  • Out of the local rupee resources in NRE/NRO/FCNR account of the borrower
  • Through sales proceeds of shares or securities or immovable property against which such loan was granted.
  • Repayment can also be made by adjustment of the deposit. 
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Saraswat-Bank
Saraswat-Bank