In case of a financial emergency such as medical expenses or paying off for marriage, etc, people tend to look out for loans from a lot of sources to meet their needs. One such source is loan against fixed deposits. Loan against deposit is a secured loan where you can pledge your deposit as collateral and get a loan in return. A loan against deposit doesn’t require you to break the deposit; instead, you can get a loan against it.
Avail loan of maximum up to 70% value of the deposits
Easy access to funds and quick loan disbursal
Flexible Tenure as long as your FD is in force
Lower interest rates as compared to personal loans
Comparatively hassle free processing
Repay at your convenience either in
lump sum or instalments (not after FD Tenure)
You repay as per your convenience as long as the bank FD is in force
Interest rate*
Any individual who is an active member of PMSCCS
Any member who is a fixed deposit holders
A duly filled loan application form
Latest Passport size photograph
Proof of Identity (Aadhar Card/ Pan Card/ Voters ID card/ Driving License)
Introduction
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