| Heading | Exact Content |
|---|---|
| Eligibility | Customer using Retail Internet Banking Service/ PNB ONE |
| Amount Of Advance | Minimum – Rs. 25000.00 Maximum – Rs. 50 lac |
| Loan Period | The maximum loan period of overdraft against FD is upto 3 years or residual period whichever is less. |
| Eligible Fixed Deposit | Fixed Deposit in the same name having residual period of upto 3 years. Tax Saver/Capital Gains FD are not eligible |
| Margin | For General Public 5% – Maturity period remaining at the time of granting advances is upto 2 years 7.5% – Maturity period remaining at the time of granting advances is above 2 years and upto 3 years For Staff & Ex- Staff Up to Rs. 10.00 lac – 5.00% above Rs. 10.00 lac – As applicable to public |
| Rate Of Interest | Presently for General Public 1% above the interest rate allowed on deposit. For Staff & Ex- Staff Advance up to Rs. 10 lacs – At par with interest on the deposit. Advance above Rs. 10 lacs – 1% above the interest rate allowed on deposit. |
| Special Terms & Conditions | One OD against One FD. Multiple combination of Fixed Deposit for the purpose of availing Overdraft limit shall not be permitted. No document (stamped Overdraft agreement etc) required. Provision of auto crediting of the periodical interest on the special FD a/c to the loan account. Online overdraft advance will be liquidated on maturity of FD in all cases and the surplus fund will be credited to the linked account from where the FD has been made. System will fix the e-OD limit after maintaining the prescribed margin. Cheque book facility will be available in the e-OD account against FD. Mandate for auto renewal of the FD will be cancelled in the system before allowing e-OD against the said FD. Partial withdrawal will not be allowed in FD on which e-OD facility has been availed. Closure of e-OD account will not be permitted until maturity of FD even if the e-OD balance comes to zero or in credit. This will be permitted only in cases of margin erosion beyond a certain specified level. Pre-mature closure of FD will be permitted on customer’s specific request, by visiting the branch. E-OD account will be opened in the same sol where FD is made. No third party advance will be allowed. Overdraft against deposits standing in the name of the minor will be allowed to the natural guardian/ guardian appointed by the Court only in his/her individual capacity for the benefit of the minor only. An undertaking to this effect will be obtained from the guardian online. |