|i||Eligibility||Any Individual, Group of Individuals, Proprietorship /Partnership Firms, Companies etc. who is a bonafide Member of the Bank, including Nominal member.|
|ii||Type of Facility||Loan and/or Overdraft limit.|
For any legitimate requirement of funds except for speculative purposes.
25% of Face value of the instrument.
|v||Rate of Interest||As per Bank’s rules.|
|vi||Repayment||As required by the borrower, but not later than the date of maturity of the instrument/s pledged with the Bank.|
|vii||Security||Pledge of NSCs and KVPs. in the name of borrower or any third party, who shall require to stand as surety for the facility.|
|viii||Other Conditions||a) Bank’s charge on the instrument to be registered with issuing authority of the respective instrument before disbursement of credit facility.
b) No financial accommodation to be allowed for purchase of same instrument which is proposed to be pledge with the Bank.
The Vaish Cooperative Adarsh Bank Ltd.
Head Office: 3, Netaji Subhash Marg, Darya Ganj, New Delhi-110002
Admin Office: 21B/7, New Rohtak Road, Karol Bagh, New Delhi-110005
Phone: + 011 41536048 / 45636048