Kerala Gramin Bank Loan Against Securities

Kerala Gramin Bank offers Loan Against Securities to its customers which provides hassle free loan against their deposit with the bank to meet their unforeseen personal expenses.

The main objetive of Kerala Gramin Bank offers Loan Against Securities is to provide liquidy to its customers at very low interest rate.

Kerala Gramin Bank Loan Against Securities is provided for following purposes:

• For undertaking Agricultural activities
• For undertaking MSME activities
• Any other bonafide reasons including personal purposes

• Simple Processing
• Faster Approval
• Secured Loan
• Lower Interest Rate is offered

Customers who are having term deposits with Kerala Gramin Bank. NRE term deposit holders are also eligible under this scheme.

Documents required for Kerala Gramin Bank Loan Against Securities: For opening an account under Kerala Gramin Bank Loan Against Securities, the applicant is required to submit following documents:

• Two Passport Size Coloured Recent Photographs
• Copy of PAN Card/ Form 60 (with reasons of not having PAN Card)
• KYC (Know Your Customer) Documents : Proof of Identity & Proof of Address
• Proof of Date of Birth (DOB) in case of Minor & Senior Citizen
• The deposit receipts certificates
• Other mandatory documents for proprietary concerns, Clubs/ Associations, Firms and Joint stock companies, as required by the bank

• Loans are provided against Fixed deposits, Cumulative Deposits and Recurring Deposits
• Upto 90% of the deposit amount can be availed as loan
• While availing the loan, the deposit receipts / certificates shall be submitted to the branch disbursing the loan

• For loan against Term Deposits: 20% of the outstanding balance
• For loan against Daily Deposits: 25% of the outstanding balance

Investors can choose each day's instalment anywhere between Rs.100 and Rs.5,000.

Due date of loan repayment is date of maturity of deposit against which the customer has availed the loan.

• Loan against Daily Deposit: 10%
• Loan against Recurring Deposit: 2% above deposit rate
• Loan against Term Deposit: 2% above deposit rate
• OverDraft (OD) against Term Deposit: 2% above deposit rate

The deposit receipts certificates shall be submitted to the branch disbursing the loan.