People's Leasing And Financial Services Limited
Loan Against Deposit

Loan Against Deposit


  • Loan Amount: Depositor's can take loan against deposit at any timeafter opening a deposit account. PLFS at it's sole discretion shall determine the amount of loan, which shall not in any exceed 90% of deposit amount. Maximum Tenure of Loan against TDR Shall not exceed 1 year. Loan will be disbursed only in the name of depositer through A/C Payee cheque.
  • Interest Rate: Interest rate on loan against TDR will be @ 2% or 2.5% higher than printed rate on respective TDR in case of availing loan upto 80% or 90% of principal amount of TDR respectively.
  • Loan Processing Fees and Charges: PLFS reserve the right to charge fees for any service it deems appropiate. VAT on fees will be borne by the customer as per prevailing law at the time of realization of fees. The depositor needs to submit original TDR Block/Certificate for available loan. The account holder(s)   need to sign all the loan related documents and discharge the TDR Block/Certificate
  • Loan Payment: The maturity period of the loan should not exceed the maturity period of the TDR. Depositor can repay any amount at any time a against the laon amount. At he time of repayment, interest amount would be adjusted first and the remaining balance would be adjusted against the principal amount. Loan amount and interest would be adjusted with the maturity value of the deposit if repayment of the loan is not made before the maturity of the deposit.

Consumer Division