NRI Products/Services
Demand Loan in Rupee against NRE Term Deposits
Nature of Facility : Demand Loan in Indian Rupees
Loan Amount : 90 % of the value (deposit + accrued interest)
Security : NRE Term 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 the deposit
Others : Loan amount should not be remitted outside India and not to be credited to NRE account