NRI Products/Services
Demad Loan in Rupee against FCNR(B) Deposits
Nature of Facility : Demand Loan in Indian Rupees
Loan Amount : 90 % of the value (deposit + accrued interest)
Security : FCNR(B) Deposit Receipt to be tendered to the Bank duly discharged
Repayment
Amount of balance in NRE / NRO account
By way of inward remittances or
Out of the maturity proceeds of term deposits
Rate of Interest : 1 % above the interest allowed on Domestic Deposit
Others : Loan amount should not be remitted outside India and not to be credited to NRE accoun