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    GP Parsik Bank Loan against Term Deposit Loan

    Overview about GP Parsik Bank Loan against Term Deposit / NSC / KVP

    With 55 branches spread across India, GP Parsik Bank is one of the major banks in India. The bank was established on 21st May 1972 in the Thane District of Maharashtra. GP Parsik Bank offers a number of financial products and services to help you experience an enhanced banking experience. The bank currently provides the following services and products - Banking Services, Deposit Schemes and Loans and Advances under which there are many sub categories.

    Purpose of GP Parsik Bank Loan against Term Deposit / NSC / KVP

    The GP Parsik Bank Loan against Term Deposit / NSC / KVP is a personal kind of personal loan offers by the bank to help you meet your personal requirements such as financing your children’s education, planning a pleasure trip, renovating your house and many such personal tasks. The scheme allows you to take loan against your Term Deposit, National Savings Certificate (NSC) and Kisan Vikash Patra (KVP).

    For a loan taken against term deposit or recurring deposit, the bank will provide finance up to 90% including accrued interest.

    For a loan against National Savings Certificate (NSC) and Kisan Vikash Patra (KVP), the bank offers 30% of the face value.

    Eligibility criteria for GP Parsik Bank Loan against Term Deposit / NSC / KVP

    Term Deposit holders and NSC and KVP holders can apply for this loan against Term Deposit / NSC / KVP offered by GP Parsik Bank.

    Features and benefits of GP Parsik Bank Loan against Term Deposit / NSC / KVP

    The GP Parsik Bank Loan against Term Deposit / NSC / KVP come with a number of attractive features and benefits. Listed below are main features and benefits:

    Repayment Period: For a loan against term deposit, the repayment period shall not extend beyond the maturity date of the deposit. Likewise, for a loan against NSC / KVP, the repayment period shall not extend beyond the maturity date of your National Savings Certificate or Kisan Vikash Patra.

    Margin: The margin of a loan against term deposit is 90% of the deposit amount including accrued interest. In case of a loan against NSC or KVP, it is 30% of the value.

    Interest Rates: GP Parsik Bank charges fixed rate of interest on its loan against term deposits. Listed below are the existing rates of interest on this loan:

    Loan amount

    Rate of interest ( fixed)

    Up to Rs. 5 lakhs

    2%+ deposit rate

    Above Rs. 5 lakhs

    1%+ deposit rate

    For any amount

    3%+ deposit rate

    For a loan against NSC / KVP, the bank charges both floating and fixed rates of interest. The floating rate of interest charged by GP Parsik Bank is 14.50% and fixed rate of interest is 16.00%.

    Documents required for GP Parsik Bank Loan against Term Deposit / NSC / KVP

    GP Parsik Bank may ask you to submit the following documents together with a filled loan application form:

    • Address Proof
    • Identity Proof
    • Latest Bank Statements
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