Overview
For unforeseen or urgent needs, a loan can be raised against liquid securities already held for taxation or other purposes — such as National Savings Certificates (NSCs) or life insurance policies.
Eligibility
The applicant should be an individual pursuing any profession.
Income
Sufficient to repay the loan with interest.
Loan Amount
Subject to the specific limits applicable to the security offered (e.g. NSCs, life policies).
Margin
75% of the surrender value, across all security types.
Security
Pledge or assignment of the liquid securities.
Guarantee
Not applicable.
Period of Loan
Until the security matures, or a maximum of 5 years for term loans — whichever comes first.