This facility is available to our existing individual customers enjoying a strong relationship with SBI. This loan could be availed either singly or as a joint account with spouse in 'Either or Survivor'/ 'Former or Survivor' mode. It is offered as an Overdraft or Demand Loan.
For meeting contingencies and needs of personal nature. Loan will be permitted for subscribing to rights or new issue of debentures against the security of debentures. Loan will not be sanctioned for (i) speculative purposes (ii) inter-corporate investments or (iii) acquiring controlling interest in company / companies.
You can avail of loans up to Rs 20.00 lacs against your debentures.
To be liquidated in maximum period of 30 months through a suitable reducing DP programme.
In case of a default or if the outstanding is over Rs.20.00 lacs, the debentures will be transferred in the name of the Bank.
Nature of Loan
Overdraft / Demand Loan with the Repayment programme maximum 30 months
You will need to provide a margin amount of 50% of the prevailing market prices of the non-convertible debentures being offered as security.
Pledge of the debentures against which loan is sanctioned.
Scheme is available at select branches at 50 centers.