Over-draft against Deposits - NRI

Features

Permissible Limit

The limit of overdraft against deposits will be as per following table. Overdraft limit cannot be changed by the customer.

• TDR/eTDR - 75% of the face value of deposit
• STDR/eSTDR - 90% of the face value of deposit

Loan Amount : As per following

• Minimum: Rs. 25,000/-
• Maximum: Rs. 5.00 crores
• Rate of Interest : 1.00% above the interest payable on the Fixed Deposit
• Cut-off time : The online opening of Overdraft facility will be available between 08:00 to 20:00 hrs IST.
• Disbursement : Overdraft account will be opened in the internet banking itself and withdrawal/transfer of fund from this account can be made either through internet banking facility or Cheques. Please note that, request for Cheque book has to be placed separately by you through internet banking facility.

Tenure: As per following

• TDR/eTDR : 3 years or remaining maturity period of Fixed Deposit, whichever is lower. The monthly/quarterly/half yearly interest payable on TDR/eTDR will continue to be credited to the account as originally opted by you.
• STDR/eSTDR : 5 years or remaining maturity period of Fixed Deposit, whichever is lower.
• Rollover / renewal of the TDR/STDR/eTDR/eSTDR : Mandate for rollover / renewal of the TDR/STDR/eTDR/eSTDR given at the time of opening of underlying deposit account will be treated as cancelled if the Overdraft account is not closed on or before the loan tenure.
• Closure of Overdraft account : The closure of Overdraft account before or on maturity or end of term of TDR/STDR/eTDR/ eSTDR will be done through Home Branch only. Please note that, presently there is no provision in internet banking for closure of such Overdraft account.