IDBI Bank Loan Against GoI Bonds is the right product to fund your urgent needs. To avail of the loan all you have to do is transfer the Bond Ledger Account (BLA) in favour of IDBI. After the BLA is transferred in favour of the Bank, the Drawing Power (DP) is calculated based on the applicable margins set by the Bank. Facility will be renewed after every 12 months depending on the performance of the account.
Features of IDBI Bank Loan Against GoI Bonds
- Attractive interest rate
- All series of GOI relief Bonds are accepted for lending in BLA form
- High Loan to value upto 95%
- Multiple bonds issued by RBI are accepted for lending
- Comprehensive single booklet documentation
- Interest charges levied at the end of every month only on the amount withdrawn
- Most convenient mode of advance for the customer as it allows to draw funds when required
