Net Banking
Net Banking
Protect yourself monetary disturbance with Mahanagar Bank’s loan against your existing saving in various financial instruments. The acceptable instruments are National Saving Certificates, Kisan Vikas Patras, Life Insurance Policies etc.
Maximum 50% of the Face value of NSCs / KVPs etc.
Loan up to 70% of Principal value of NSC / KVP and 90% of Surrender value of LIC policy
12 months or till the date of maturity of NSC / KVP as per discretion of Bank
Interest on loan to be repaid on monthly basis
Repayment: Upto 36 months or on maturity
NSC:
90 % of Face Value if residual maturity period is less than 3 years
85 % of Face Value if residual maturity period is more than 3 years
LIP: 90% of surrender value
Salaried individuals in permanent employment for minimum period of 3 years
Professionals & self-employed persons in business for at least 3 years
Having current / saving account holder of the Bank.
Borrower must be a member / nominal member of the bank.
The Life Insurance Policy(LIP) should be in force for a minimum period of 3 years and should be assignable
NSC/KVP should be minimum 1 year old in case of TL
Applicant must have his own certificate of NSC/ KVP or LIP.
Original certificates of NSCs/KVPs/IVPs etc
Lien marked certificate of NSC / KVP by the issuing post office in favour of the Bank and to be pledge with the Bank.
Original Life Insurance policies with assignment in favour of the Bank are to be deposited