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UAR Nidhi Loan Against RD
This will be a recurred loan and payment on the loan will be adjust against the amount available in the recurring deposit account of the borrower.
Depositors can avail an Overdraft or loan against the funds available in the recurring deposit account. The recurring deposit can be held for a minimum period of 12 months and a maximum period of 120 months. Defaulted payment on the loan will be adjusted against the amount available in the recurring deposit account.
Loan Against RD Deposit is only for the Recurring Account Holder of Organisation.
Loan avail up to 85% on Account Holder’s RD Account Balance.
The Loan on RD Deposit will be for a period of 12 months