SMSO Loan against Deposit Receipt
An ideal way to maintaining liquidity while optimizing the returns of your invested funds
- Loan against Deposits is a facility offered by SMSO to their members. against your deposits held with us. For your liquidity requirements, avail 80% of the value of deposits held, without breaking the deposit.
- You can avail a loan against the security of FDR / RD deposits.
- Part-payment of Loan allowed.
Enquire Now
Like to know about any of our Loans or Deposits?
Fill the form, We will get in touch.
You need not close the deposit prematurely, and can avail the loan :
- At the branch where you maintain the deposit.
- As an overdraft or as a demand loan.
- For a maximum of 80% of the face value of deposit.
- At an interest rate linked to Deposit Rate against FD / RD deposits.
- Interest for loan appropriated against interest payable to Deposits.
Loan / OD against Deposits
Eligibility | Term Deposit / Recurring Deposit Holder |
Amount of Loan | 80% of Principal of deposit. |
Repayment | * Flexible. * Maximum up to date of maturity of deposit. |
Prepayment charges | Interest Rate: 1% over the contracted rate for the Term Deposit/Recurring Deposit pledged. |
Security | Pledge of Term Deposit/Recurring deposit Receipt. |