SADBHAV NAGRIK SAHKARI BANK MARYADIT
RD Loan
Those who have a Recurring Deposit in a Bank can avail loan against the deposit. In this case, the recurring deposit will be treated as a collateral by the bank and the depositor can avail 80% - 90% of the deposit value as loan amount. This will be a secured loan and any defaulted payment on the loan will be adjusted against the amount available in the recurring deposit account of the borrower. Interest levied on a loan against recurring deposit is lower than that which is applicable on a personal loan.
Rate of Interest for RD Loan
The Bank is charging 2% higher interest from Recurring Deposit Interest Rate for RD Loan.
Documents and Details required for RD Loan are as follows:
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