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Advance Against Govt or RBI Bonds
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Advance Against Govt or RBI Bonds

Title

                                  Norms

Purpose

  • For personal expenses

Eligibility

  • Transferable and Tradeable Govt/RBI bonds in demat form.

Limit of Loan

  • No limit

Basis of Advance

  • 90% of face value of bond in Demat form where interest is received regularly
  • 95% of accrued value of bond in Demat form where interest is received on maturity i.e. Cumulative scheme

Repayment Period

  • Not exceeding due date of Govt/RBI Bond or Maximum 5 years whichever is earlier.

Rate of Interest

  • Floating @PLR -3.25: 11.00% p.a

Processing Fee

  • Nil

Shareholding

  • For Loan upto Rs 1.00 Lakh:Nominal Membership
  • for Loan above Rs. 1.00 Lakh:2.50% of the sanctioned amount maximum Rs 25000/-.

Security

  • Govt/RBI Bond (Only transferable bonds or where lien can be marked on Bonds) 

Documentation

  • Prescribed loan application form
Conditions apply
467371775086e094fb7a843004cb7999 savings account, loans, SME loans, NRI banking services, Forex, car loan, home loan, co-operative bank, trade finance
Saraswat-Bank
Saraswat-Bank