Eligibility of borrower:
- Having current / saving account holder of the Bank.
- Borrower must be a member / nominal member of the bank.
Purpose of Loan:
- Any personal requirement
Quantum of Finance:
- Loan up to 70% of Principal value of NSC / KVP and 90% of Surrender value of LIC policy.
- 12 months or till the date of maturity of NSC / KVP as per discretion of Bank
- Interest on loan should be repaid every month.
- Lien marked certificate of NSC / KVP by the issuing post office in favour of the Bank and to be pledge with the Bank.
- Original LIC policies with assignment in favour of the Bank are to be deposited.