Loan against FDR/LIP/NSC:-
Loan against FD/NSC/LIP offers you instant liquidity and no need to sell your FD/NSC/LIP for short term cash problem. All you have to do is pledge your securities/Policy doc in favour of Samata Co-op Development Bank Ltd. Then we will grant you money up to value determined on the basis of securities provided by you.
Benefits:-
- Simple process to get loan.
- Easy repayment and instalments schedule.
- No need to disinvest your hard earned money for short term cash requirements.
- Vary easy documentation.
- Very fast procedure.
- Repayment Period: 10 years in case of Term Loan OR date of maturity whichever is earlier.
- NSC -75 % of Face Value
- LIP- 75% of surrender value
- FDR-80% of Face Value / 75% in case of MID
Eligibility:-
- The Life Insurance Policy (LIP) should be in force for a minimum period of 3 years and should be assignable.
- NSC should be minimum 1 year old in case of Term Loanand should be assignable.
Documents:
- Duly filled form with :
ii. Residential Proof of Applicant(s)
iii. PAN Card of Applicant(s)
iv. KYC of Applicant(s) - Pledge of FD Receipt/LIP/Securities is Prime Security.
- No Guarantor.