This is a novel loan scheme whereby any income tax payee can avail loan for the purchase of National Saving Certificates which will entail them for claiming deduction up to Rs.1lakh from the total income of a year. Loan will be given up to 80% of the face value of the certificate intended to be purchased. Balance amount has to be remitted by the customer.

Security

The only security is the certificate purchased on which lien will be noted

Period

6 years

Interest

13.00% simple. If defaulted 15.00%

Repayment

Principal plus interest in equal monthly instalments.

 

 

To avail this facility, please check our branch list and get in touch with the branch
which is most convenient for you.