Loans against Deposits

NK Bank offers Loan against Deposits to its customers at attractive interest rates and with minimal paperwork. The bank allows customers to borrow up to 90% of the value of their fixed deposit.

To avail of this service, customers need to fill out an application form and submit it to the bank. The bank will then verify the details provided and sanction the loan if everything is in order. The loan amount will be credited to the customer's account, and they can use it as per their requirements.

The interest rate on a Loan against Deposits is generally lower than that of a personal loan or a credit card. This is because the fixed deposit serves as collateral for the loan, which reduces the risk for the bank.

One of the significant advantages of a Loan against Deposits is that the customer does not need to break their fixed deposit to avail of the loan. This means that they can continue to earn interest on their fixed deposit while also having access to funds when needed.

Overall, Loan against Deposits is a convenient and cost-effective financial service offered by NK Bank, which allows customers to meet their financial needs without having to break their fixed deposits.

Do you want to have money available to you at all times, whether you need it for a last-minute family vacation or an emergency medical procedure? To avoid forfeiting your time deposit, take out a loan against it.


          

        NK Bank Home Loan: Features



Emergency fund
Pay via cheque bank transfer or cash

Extended timelines for repayment

Flexible usage of funds

Flexible repayment amount

NK Bank Home Loan: Features

Products for home loans to meet every consumer demand

The amount of the accepted mortgage varies depending on the applicants' income and region.

Interest rates are low

Minimal Processing Fee

No Additional Fees

Absence of Prepayment Penalty

The interest rate is updated each month and is based on the bank's NK Bank Repo Linked Lending Rate (BRLLR).

interest on a daily decreasing balance

After the loan money has been disbursed, there is a moratorium period that lasts up to 36 months before repayment begins.

Mortgages on newly developed or purchased property are typically accepted as security. Some lenders would accept insurance policies, government promissory notes, stocks and debentures, jewelry made of gold, other pieces of property, etc. as collateral for home loans.


  1. Up to 95% of the value of your time deposit may be financed.
  2. According to your needs, both a demand loan and an overdraft facility.
  3. Low rates of interest. Additionally, we assess interest on a daily decreasing balance.
  4. No processing fees; no penalty for early payment.
  5. Minimum loan amount: Rs. 5000 (for online overdrafts against fixed deposits).
  6. Maximum Loan: Rs. 5 Crore (For Online Overdraft Against Fixed Deposit).
  7. Margin: Get a loan up to 95% of the value of your time deposit.
  8. Time Deposit Underlying Security Lien.
  9. Loan Type: Demand Loan and Overdraft.
  10. Channels: Branches, NK Bank, and Internet Banking.
  11. Interest rate: 1% more than the average rate on time deposits.​


NK Bank Loan Against Deposits: Eligibility

Customers (Single/ Joint Account Holder) holding NK BANK’s TDR/STDR / RD / including NRE/NRO/RFC and FCNR(B) Deposits can avail this loan. Single Account Holder can also avail Overdraft against TDR and STDR online through Internet Banking platform.​



NK Bank Home Loan: Documents Required

PERSONAL LOANS:                                                                                        LIMIT:  15 LAKHS


    • KYC.
    • INCOME PROOF (LAST 3 YEARS IT RETURNS).
    • APPLICATION.
    • ROI: 18 % (TO BE REVISED).
    • TENNURE: MAX 5 YEARS.
    • AGREEMENT FOR SALE.
    • COLLETORAL SECURITY – ALL LINKED DOCUMENTS.
    • 2 GUARANTORS.
    • LEGAL OPINION & VALUATION.
    • MUNICIPALITY APPROVED PLAN.
    • LATEST MUNICIPAL TAX PAID RECIEPT.
    • SHAREHOLDING 2.5% OF LOAN (REFUNDABLE).
    • GUARANTOR 5 SHARES EACH OF RS 100/- (REFUNDABLE).
    • PROCESSING CHARGES 1.25% OF LAON AMOUNT (NON-REFUNDABLE).
    • MISCELLENOUS CHARGES