Eligibility

• The applicant should have the resident of area of operation of the Bank
• The applicant should produced the original valid certificate from the local Post Office.

Membership

• The applicant should be a permanent or nominal member of the Bank .

Basis for deciding loan limit

• 75% of the face value of NSC or KVP.
• The loan amount will be disbursed after transfer / pledge / charge of the Bank in Post Office.

Documents required

• Residential proof.
• Declaration of ownership of NSC / KVP.

Guarantors

• Guarantors not required.  

Collateral security

• not required.

Interest Rate

• Interest will be charge on monthly basis as per the prevailing rate.
• penal interest 2% will be charged in case of default.

Fees and charges

• 2.5% linking shares.
• Processing fees as per the Bank rule.
• Stamp duty as per the bank rule.