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Home >> Loan >> Retail Schemes >> Finance Against Govt. Securities
Finance Against Govt. Securities

ORIENTAL SCHEME FOR FINANCING AGAINST GOVT. SECURITIES/LICs ETC

Eligibility

1.      Indian Nationals 18 years and above

2.      Firms/companies provided the offered securities are in the name of those firms/companies.

Purpose

To meet personal expenses/business expenditure except speculative/prohibited purposes.

Type of Facility

1.      Overdraft limit (renewable every year)

2.      Demand Loan (repayable in 36 months)

Amount of Loan

Rs.50.00 lac (maximum)

Security

Govt. securities, PSU Bonds, Securities/Relief Bonds issued by RBI/ICICI/IDBI, NSCs, LIC Policies of LIC of India or any other such security transferable/assignable to the Bank.

Margin

1.      10% surrender value of insurance Policy

2.      25% of the face/accrued value of the security in other cases.

Rate of interest (floating)

Click here to view rate of interest.

Penal Interest

Penal interest @ 2% p.a. over and above the normal lending interest rate shall be charged on irregular portion & for the period of irregularity.

Process/ upfront fee

Click here to view Process Fee.

Disbursement

Through account of the borrower

 

* For further details please contact the nearby branch or call at 1800-180-1235 & 0124-2340940