| Features | ||
|---|---|---|
| Nature of Facility | : | Overdraft with Cheque Book facility |
| Purpose | : | General purpose |
| Amount of Overdraft | : | 80% of the value to the Deposits plus accrued Interest with a minimum limit of `50,000/- (Max. `20.00 lacs) |
| Service Charges | : | As applicable to current accounts. |
| Security | : | NRE / FCNR Term deposit receipt to be tendered to the Bank duly discharged (undated) |
| Rate of Interest | : | Against NRE / NRO Term Deposits – 1.50% above the interest allowed on the deposit. |
| Credits / Repayments | : | Credits to be routed through NRE / NRO accounts By way of inward remittances Out of the maturity proceeds of the NRO / NRE FCNR term deposits. |
| Others | : | Loan amount should not be remitted outside India and not to be credited to NRE account. |
