| 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 Rs.50,000/- (Max. Rs.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. |
