The Company may grant, at its sole discretion, loan against deposit, provided the deposit had run for a minimum period of 3 months upto 75% of the deposit amount, carrying interest @ 2% above the contracted rate (compounded at the same rest as of the TDR) payable on such deposits. The relative term deposit receipt(s) and other documents have to be signed by both/all the depositors in case of Any one or Survivor/s (‘A’ or ‘S’) deposit. Renewal with loan is not possible. Maturity payment after adjustment of loan principal and loan interest will be made if renewal instructions are not received 15 days before maturity.
Cheque / DD / NECS / NEFT / ECS / RTGS for loans will be made only in favour of the first depositor.