Loan Schemes
More about us
Deposit Loan
Interest Rate
2% over and above the deposit interest
Deposit loans are financial products that allow individuals or businesses to borrow money against their fixed deposits or other savings accounts. Instead of breaking the deposit prematurely, the borrower can use it as collateral to secure a loan, often at lower interest rates compared to unsecured loans.
The loan amount typically 85% of the deposit value. This option ensures that the depositor continues to earn interest on their savings while meeting immediate liquidity needs without disrupting long-term financial goals.
- Primary Security: The loan is secured by pledging the duly discharged term deposit receipt by all the joint holders of the deposit.
- Amount of Loan: The loan amount is up to 85% of the face value or current balance of the deposit.
- Margin: 15% of the deposit value.
- Rate of Interest: 2% over the interest payable on the term deposit.
- Tenure of Loan: The maximum tenure is the remaining period of maturity of the deposit.
- Contribution to Share Capital: Nil.
- Processing Charges: Nil
- Other Charges: Nil
- The applicant must be the customer of Anantapuramu cooperative urban bank
- The applicant must have deposit bonds for Anantapuramy Cooperative urban bank
- Maximum loan amount that can be sanctioned
- 85% of face value for fixed deposits
- 85% of current value for reinvestment deposit
