Welcome to our Mogaveera Bank

Overdraft Against Tangible Securities

Purpose

Any genuine need.

Max. Limit

Rs. 25.00 lacs.

Rate of Interest

13.5% p.a with monthly rests.

Tenure

Max. 60 months. (In case of OD Limit – 12 months.)

Security

Pledge of NSC’S, RBI Bonds, Life Insurance Policies.

Margin

20% of face value of securities like NSC above 3 years.
30% of face value of securities like NSC upto 3 years. 15% of SV of LIC &
10% of S.V under S.S. Scheme.

Processing Fees

0.5% + GST

Other Conditions

Personal guarantee for third party securities.

*No Pre-payment Charges.