|
Deposit |
NRO TDR/STDR/RD |
NRE TDR/STDR/RD |
FCNR (B) TDR/STDR |
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Purpose
|
Loan can be taken to carry any business activities, for acquiring a flat / house in India or for meeting emergency financial requirements. It cannot be granted for re-lending or carrying out agricultural / plantation activities or for investment in real estate business. Loan amount cannot be repatriated abroad.
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|
Type of facility
|
|
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-
Demand Loan
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Overdraft
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Foreign Currency Loan
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|
Currency
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Indian Rupee
|
Savings, Current, Fixed Deposits (TDR/ STDR) and RD
|
-
Indian Rupee
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USD
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GBP
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EURO
|
|
Period of Loan
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Up to the remaining period of maturity
|
Up to the remaining period of maturity
|
-
Rupee Loan: Up to the remaining period of maturity
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Foreign Currency Loan: Up to 1, 2 or 3 year or up to the remaining period of maturity with a minimum of one year.
|
|
Loan can be availed from
|
Home branch in India
|
Home branch in India
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Designated branches in India or at foreign office
|
|
Minimum Loan
|
No limit
|
No Limit
|
-
USD 25000
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GBP 15000
-
EURO 20000
|
|
Maximum Loan
|
No limit
|
No limit
|
No limit
|
|
Margin
|
10% (Principal and accrued interest)
|
10% (Principal and accrued interest)
|
10% on notional rupee value of Foreign Currency Deposit and accrued interest
|
|
Interest rate on Foreign Currency loan
|
Not available in India
|
Not available in India
|
1.50 % over prevalent FCNR (B) deposit rate for the relative period at the time of processing the loan
|
|
Facility for creation of Overdraft (OD) through Internet Banking
|
Available (Please click here to know features and other details of this facility)
|
Available (Please click here to know features and other details of this facility)
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Not available
|
|
Execution of Documents
|
-
If availed from branch in India: To be executed by depositor himself / herself at home branch and not by Power of Attorney holder
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If availed from overseas branch: As per the policy for respective foreign office
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|
Repayment of Loan
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-
Adjustment of underlying deposit
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Fresh inward remittance
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From other NRO account
|
-
Adjustment of underlying deposit on maturity only
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Fresh inward remittance
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From other NRO / NRE account (The repayment from NRO account will be within the cap of USD one million per financial year)
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-
Adjustment of underlying FCNR (B) deposit on maturity only
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Fresh inward remittance
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From other NRO / NRE account (The repayment from NRO account will be within the cap of USD one million per financial year)
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Interest rates applicable
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Please click here for interest rates
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