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Cash Credit Loan

Purpose :

  • Right Money at Right Time

Loan Amount :

  • Maximum amount = 90 % Of Fixed Deposit Amount

Period of Loan :

  • Maximum period of 15 Months or Date of Maturity of Fixed Deposit Which is earlier

Rate of Interest :

  • Maximum period of 15 Months or Date of Maturity of Fixed Deposit Which is earlier 14 % ( if third party deposit)

Guarantor :

  • N/A

Membership :

  • Nominal Member

Margin :

  • N/A

Documents :

  • Fixed Deposit Receipt
  • Third party Guarantee & Consent Letter ( if F D is on other than borrower’s name)
  • Agreement / Promissory Note / Continuing Guarantee
  • Lien Letter / Take Delivery Letter

Terms & Condition :

  • Monthly Interest Calculation.
  • Interest on Fixed deposit directly transfer to loan A/c

Other :

  • F / D of Pavana Bank at any Branch
  • No Rebate Facility
  • Cheque Transaction only