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Old 4th February 2020, 08:32 PM
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Default Loan Against Fixed Deposit State Bank Of India

I want to apply for Loan against Fixed Deposit in State Bank Of India SBI so can you provide me the details of the loan?
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Old 4th February 2020, 09:54 PM
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Join Date: May 2012
Default Re: Loan Against Fixed Deposit State Bank Of India

The State Bank Of India SBI offer Loan Against Time Deposit to their customers.

SBI Loan Against Time Deposit

Do you want funds readily available to you whenever you desire or need, be it a sudden vacation that you plan with your family or urgent funds required for medical treatment? Then avail loan against Time Deposit without breaking your Time Deposit

Advantage:

Avail Loan up to 90% of the value of your Time Deposit

Low interest rates. Further, they charge interest on a daily reducing balance!!

Both Demand Loan and Overdraft Facility as per your need

Zero processing charges;

No prepayment penalties.

Eligibility :

Customers (Single/ Joint Account Holder) holding SBI’s TDR/STDR / RD / including NRE/NRO/RFC and FCNR(B) Deposits can avail this loan.

Single Account Holder can also avail Overdraft against TDR and STDR online through Internet Banking platform

Amount of Loan (For Online Overdraft against Fixed Deposit)

Min: Rs 25000
Max: Rs 5 Crore

Margin : Avail loan up to 90% of your Time Deposit value

Repayment Period :

Suitable repayment schedule will be fixed depending upon the repayment capacity of the borrower for Loan taken through Branches.

Maximum Repayment period has been capped at 5 years against STDR/e-STDR and 3 years against TDR/e-TDR respectively for Overdraft availed online.

Type of loan : Demand Loan& Overdraft

Processing fee: NIl

Interest Rate: 1% above the relative time deposit rate

Customer service: 1800 425 3800
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