Loan Against Deposits

Loan against Fixed Deposits can be availed by our members against their deposits held with Ernad Nidhi Limited. Loan amount of upto 90% of the value of deposits held can be availed, without breaking the deposit for tenure less than the term of Deposit or one year, whichever is earlier. Loans are available against the pledge of both Term and Recurring Deposits. The outstanding loan amount together with interest shall be adjusted automatically on maturity of deposit.

Safety of Gold Ornaments

We guarantee you that your precious gold ornaments will be in our safe hands in our branches. Modern electronic surveillance technology and strict security measures are deployed to protect your precious gold ornaments. The pledged gold ornaments are also insured for full value.

Features at a Glance

• Interest charged only on the amount utilized and for the tenure of utilization
• No pre payment charges
• Low Interest Rate (2% over the contracted rate for the Term Deposit/Recurring Deposit pledged)
• Loans available for both Term Deposit and Recurring Deposit holders

(* Interest amount is subject to TDS as per provisions of Sec 194 A of the Income Tax Act 1961)