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 75% 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.
Like to know about any of our Loans or Deposits?
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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 75% 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
Term Deposit / Recurring Deposit Holder
Amount of Loan
75% of Principal of deposit.
* Flexible. * Maximum up to date of maturity of deposit.
2% over the contracted rate for the Term Deposit/Recurring Deposit pledged.
Pledge of Term Deposit/Recurring deposit Receipt.
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