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Govt. Bond Loan / FD Loans

You might be invested in Govt. Securities like Post Office Bonds, other Govt. Bonds and LIC Bonds for a specific purpose like tax savings etc., Whereas the liquidity is little tough when it comes to encash the amount for your emergency financial needs. Here is the one point solution for ready cash provided by our CITO Nidhi Limited on your locked funds. This is unique product and we are the only Quasi-Banking MBC offering the loan against approved Bonds and FDs

Rs. 10000 - 3 Lac

Rs. 10000 - 3 Lac

Loan Amount

1 Year

1 Year

Period

PF - 2.50% + GST

PF - 2.50% + GST

Charges and Fees

Features and Benefits

  • All resident Individuals can avail
  • Loan shall be granted for general purposes like Personal, Consumption, Education, Health, Business, etc., other than speculative purposes.
  • Can be availed as Overdraft or Term Loan with easy EMI payments Option.
  • Bond should be Assigned in favor or CITO Nidhi Ltd.
  • Pre-Mature Closure is allowed, subject to applicable norms.
  • No CIBIL rating is required
  • Loan Period available for  1 year or left over period for the Bond  maturity whichever is earlier.
  • Avail Loan upto 70% of the Assigned  Value for Bonds and upto 85% of Fixed Deposit. 

Terms and Conditions

Loan Amount Minimum Rs 10,000/-, Maximum Rs 3.00 lakhs
Repayment Tenor 1 Year or remaining residual tenor of the Bond, whichever is earlier
Processing Charges 2.50% on Loan Amount + GST for Bond Loan, for Loan against FD its NIL
Foreclosure Charges 4% on Loan outstanding f or Bond Loan, for Loan against FD its NIL
Primary Security Hypothecation of Stocks in favor of CITO Nidhi.
Guarantee Not Applicable
Other Terms & Conditions
  • Loan upto 85% of your Fixed Deposit / Recurring Deposit with 3% additional interest rate of FD/RD
  • Avail Loan upto 70% of your NSC/KVP/LIC and other approved GOVT Bonds
  • Mandatory undertaking from the borrower/s to effect that the loan / limit will not be for speculative purposes.
  • Can be availed as Overdraft or Demand Loan or Term Loan or Bullet Payment Loan
  • For FD Loan, at the time of maturity, the loan amount will be fully adjusted against the FD/RD and balance amount can be paid to the customer. Loan against MIP deposit, the monthly interest can be adjusted to the loan account towards interest
  • Penal Interest of 2% and EMI bounce charges of 5% of EMI would be applicable as per Loan policy on delayed payments
  • Its mandatory to become as a member of the CITO Nidhi Ltd, and Company will issue minimum 10 shares of Rs.10/- each with total value of Rs.100/- towards share capital
  • Interest will be calculated at the rate applicable for the period of the Loan has actually remained with the Bank. The rates are subject to change from time to time and same will be notified. 
  • All Guidelines applicable with regard to Sanction, Disbursement and Repayment of Loan will apply to the Loan Policy acceptance under this scheme.
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