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Pledge Loan

  • Cash deposit or placing of owned property by a debtor (the pledger) to a creditor (the pledgee) as a security for a loan or obligation. The pledgee has an implied right to confiscate and/or sell the pledged property to satisfy his or her claim in case of a default.

REPAYMENT PERIOD:-

  • Upto date of maturity of security pledged.

DOCUMENTATION:-

  • Pronote, Loan Agreement, Set-off Letter, Pledged Security duly discharged  on revenue stamp, Undertaking from guardian, in case of FDR in the name of minor, Bank lien marking by the Bank concerned employee

MARGINS:-

  • 90% to 95% of value of Term Deposit–Margin will be  5% to 10%.

GUARANTORS / SURETIES:-

  • One Surety.

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