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Load Against ....FD/Property/Shares/Insurance/PPF

Written By Sambasivarao on Wednesday, October 23, 2013 | Wednesday, October 23, 2013

Summary of Salient Features of Different Kinds of Loans


Loan against Fixed Deposit

Gold Loan

Loan against Property

Loan against Shares

Loan against Life Insurance

Loan against PPF

Fixed deposit should be for at least a year
Available for just gold components. Not valid for other stones, metal or platinum.
No mortgage issues. Property should not be under ownership disputes. Minimum income from the land should be Rs 1 lakh
Only individuals are eligible.. Loan is granted only on the basis of bank’s approved list of shares
They are sanctioned only on endowment plans, after completion of 3 years of the entire premium
It is available from the 3rd up to 6th year and up to 25% of balance at the end of 2nd year
Fixed Deposit Receipt
Proofs for identity and address of the individual
Proof of residence, identity, age, income, property documents and signature
Proofs of address, identity and signature. Power of attorney, transfer pledges and forms
Actual documents of the policy
PPF passbook
Rates of Interest
1% or 2% more than the rate on the fixed deposit
10% to 17%; Higher in the case of gold loans from NBFCs
13% to 16%
13% to 16%
8% to 9%
2% above the rate of interest for PPF
Processing Time
2 or 3 days
1 working day
10 or 15 days depending on the lender.
7 to 15 working days
2 to 3 days
1 or 2 working days
You can take a look at the above mentioned options see which one might suit you best. 
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