Loan against Deposit Receipt
An ideal way to maintaining liquidity while optimizing the returns of your invested funds.
Loan against Fixed Deposits is a facility offered by Maben to our members against your deposits held with us. For your liquidity requirements, avail 90% of the value of deposits held, without breaking the deposit.
You can avail a loan against the security of TDR / RD deposits.
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 90% of the face value of deposit and including the interest accrued on the deposit.
- At an interest rate linked to Deposit Rate against TD/RD deposits.
|Loan / OD against Deposits|
|Eligibility||Term Deposit /Recurring Deposit Holder|
|Amount of Loan||90% of accrued value of deposit.|
|Margin||10% on accrued value of deposit.|
* Maximum up to date of maturity of deposit.
2% over the contracted rate for the Term Deposit/Recurring Deposit pledged.
|Security||Pledge of Term Deposit/Recurring deposit Receipt.|