Product - ACCB loan Against Security
The owner doesn’t have to sell his securities like NSC/KVP.
What all he has to do is pledge his owned securities in favour of bank.
A current account will be opened and overdraft limit will be sanctioned.
Interest will be charged only on the amount withdrawn and for the time span utilized.
Quantum of Loan :
With RSCB Loan against Security, you can get a loan up to 70% of value determined on the basis of the securities pledged.
Rate of Interest :
Interest rate @12.00% p.a. on monthly basis
Repayment Period :
Maximum period up to the maturity date of the security.
Documents required along with duly completed Application Form.
Borrower related document
Photograph - 1
Photo Identity Proof.
Signature Verification Proof
Residence Address Proof.
Nominal Member Application along with nominal member fee as per bank’s norms.
KYC documents of borrower(s) as well as Guarantor(s) - PAN Card, Photo Debit Card, Arms License, Ration Card of the Applicant, Freedom Fighter Pass, Employer Identity Card, etc with the condition that it must contain Name, Photograph and Signature of holder.
Document related to collateral property for loan exceeding Rs.1,00,000/-
Copy of title documents viz. Sale Agreement, Registry, Allotment Letter/Lease deed
Non-encumbrance certificate.
Valuation of the property or letter of demand.
Loan Documentation :
Loan Agreement on stamp paper as per bank's norms.
Guarantee deed on stamp paper as per bank's norms.
Memorandum of deposit of title deeds.
Demand & time Promissory notes.
Letter of continuity.
Usuance Certificate.
Letter of undertaking in the prescribed format.
Fixed Deposit receipt as per bank's norms.