Loan Against Deposit
Loan Against Deposit (FD) - Dhanyug Co-Operative (U) Thrift & Credit Society Ltd
At Dhanyug Co-Operative (U) Thrift & Credit Society Ltd, we understand the importance of flexibility when it comes to accessing funds. Our Loan Against Deposit (FD) scheme is designed to provide you with immediate liquidity without disturbing your long-term investments. By using your Fixed Deposit (FD) or National Savings Certificate (FD) as collateral, you can access funds quickly and efficiently, while still earning interest on your investments.
INTEREST
- 1% p.a. extra (Reducing Balance on Loan against FD)
- 15% p.a. (1.25% p.m.) Reducing Balance on Loan against FD.
CONDITIONS
- Must be a Member of the society.
- Must produce the FD Certificate (in case of Loan against FD).
- Must produce the original documents in case of Loan against FD.
Key Features of Loan Against Deposit (FD)
Quick Access to Funds
Get fast access to funds by pledging your FD as collateral, with minimal documentation and quick processing.
Loan Amount
Members can avail of loans up to 90% of the value of their FD.
Competitive Interest Rate
Enjoy affordable interest rates, which are generally lower than unsecured loans.
Flexible Repayment Terms
Repayment options are tailored to fit your financial capacity, with tenure options ranging from 6 months to 5 years.
Retain Interest on FD
You continue to earn interest on your FDwhile the loan is active, making it a win-win solution.
No Need to Liquidate Deposits
Avoid liquidating your FD, which would lead to a loss of accrued interest.
Simple Documentation
The application process requires only basic documents, and the loan is approved quickly once your collateral is assessed.
Eligibility Criteria for Loan Against Deposit (FD)
- The applicant must be a member of Dhanyug Co-Operative (U) Thrift & Credit Society Ltd.
- The applicant must hold an active Fixed Deposit (FD) with the society.
- The applicant must have a satisfactory repayment history with the society (if applicable).
- The FD must be in the name of the loan applicant or jointly with family members.
Documents Required for Loan Against Deposit (FD)
- Identity Proof: Aadhar Card, PAN Card, or Voter ID.
- Address Proof: Utility bill, driving license, or ration card.
- FD Certificate: Original copy of the Fixed Deposit.
- Loan Application Form: Fully completed loan application form.
- Photographs: Passport-sized photographs of the applicant.
Benefits of Loan Against Deposit (FD)
1. Flexibility and Convenience
If you need funds urgently but want to keep your FD intact, this loan offers the perfect solution.
2. Low-Interest Rates
Since the loan is secured by your FD , the interest rates are much lower than personal or unsecured loans.
3. Continue Earning Interest
You don’t lose out on the interest your FD generates, which makes this loan an attractive option for short-term financial needs.
4. Easy Repayment Options
Choose from various repayment options that suit your financial situation, and enjoy hassle-free loan closure.
5. No Hidden Charges
With Dhanyug Co-Operative (U) Thrift & Credit Society Ltd, you can expect complete transparency with no hidden fees or charges.
Repayment Options
- Flexible Tenure: Choose repayment options from 6 months to 5 years.
- EMI Payments: Repay the loan in easy monthly installments (EMIs).
- Prepayment Option: You can repay the loan earlier without penalty, saving on interest.
How to Apply for a Loan Against Deposit (FD)
Step 1: Visit the Nearest Branch
Visit your nearest branch of Dhanyug Co-Operative (U) Thrift & Credit Society Ltd to inquire about the Loan Against Deposit (FD).
Step 2: Submit the Loan Application
Fill out the loan application form and submit the required documents.
Step 3: Assessing Collateral
Your FD will be assessed to determine the loan amount you are eligible for.
Step 4: Loan Approval
Once your application and collateral are verified, the loan amount will be disbursed to your account, typically within 24 to 48 hours.
Why Choose Dhanyug Co-Operative for Loan Against Deposit (FD)?
At Dhanyug Co-Operative (U) Thrift & Credit Society Ltd, we believe in offering our members easy access to financial support, without disrupting their long-term investments. With a Loan Against Deposit, you get the best of both worlds – quick access to funds and the benefit of earning interest on your FD.
Key Advantages
- Quick Processing and Approval
- Competitive Interest Rates
- No Need to Liquidate Your FD
- Transparent and Hassle-Free Process
Frequently Asked Questions (FAQs)
You can borrow up to 90% of the value of your FD .
No, you can choose flexible repayment options, and repayments can be spread over several months or years.
Yes, you can prepay the loan without any penalties, allowing you to save on interest charges.
Failure to repay on time may lead to a penalty and could affect your credit rating. Please contact the society if you anticipate difficulty in repayment.
Yes, you will continue to earn interest on your FD while the loan is active, which makes this a cost-effective solution.
Contact Us Today!
Need immediate funds? Don’t liquidate your FD get a Loan Against Deposit today with Dhanyug Co-Operative (U) Thrift & Credit Society Ltd.
- Phone: [+91-8750560254
- Website: [www.dhanyugsociety.com]
Choose Dhanyug Co-Operative (U) Thrift & Credit Society Ltd for all your financial needs – we are committed to offering the best solutions!