Rupee Loans against deposits
There is no ceiling on amount of loan/advance against security of NRO/NRE time deposit to depositor and or to third parties for genuine personal/business needs.
Loan to depositor against NRO/NRE deposit is allowed at 1% higher than the deposit rate.
Loan to third parties against NRO/NRE deposit receipt is allowed at 2% over deposit rate or rate for category of the borrower,whichever is higher.
Rupee loan to depositer against FCNR B Deposit is allowed at 2% over deposit rate or our base rate, whichever is higher. Loan to third parties will be at 3% above deposit rate or 1% above our MCLR rate, whichever is higher.
Non Resident Indians holding Indian Passport can avail Home Loan from the Bank for purchase of Residential property in India. PIO (Person of India Origin) and OCI (Overseas Citizen of India) possessing foreign passport can also be sanctioned Home Loan.