Nagarik Sahakari Bank Ltd., Bhiwandi offers *Advance Against Deposits* to meet customers’ short-term financial needs without breaking their valuable deposits. This facility enables deposit holders to avail loans by pledging their Fixed Deposit / Term Deposit with the Bank.
Key Features
► Loan facility available against *Fixed Deposits / Term Deposits* held with the Bank
► Quick and hassle-free processing
► Attractive and concessional rate of interest
► No need to prematurely close the deposit
► Loan amount available up to a specified percentage of the deposit value
► Flexible repayment options
Eligibility
► Individual deposit holders
► Joint deposit holders (as per mandate)
► Senior Citizens holding term deposits
► Deposits should be free from any lien or encumbrance
Loan Amount - Loan can be availed up to *75%–90%* of the deposit amount (as per Bank norms)
Rate of Interest - Interest rate is generally *nominally higher than the deposit interest rate*, as decided by the Bank from time to time
Repayment
► Loan can be repaid in lump sum or through periodic installments
► Interest payable at regular intervals
► Outstanding loan amount may also be adjusted against the deposit on maturity, if required
Documents Required
► Duly filled loan application form
► Original Deposit Receipt (FDR / TDR)
► KYC documents as per Bank norms
Benefits
► Immediate liquidity without disturbing long-term savings
► Simple documentation and faster approval
► Cost-effective borrowing option
► Ideal for meeting personal, business, or emergency financial needs
