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  • Application For Loan Against Deposit Receipt - Stfc

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Shriram Transport Finance Company Limited Registered Office: Mookambika Complex,3rd Floor, 4 Lady Desika Road, Mylapore, Chennai 600 004APPLICATION CUM UNDERTAKING FOR LOAN AGAINST FIXED DEPOSIT RECEIPT.

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How to fill out the Application For Loan Against Deposit Receipt - STFC online

This guide aims to assist users in completing the Application For Loan Against Deposit Receipt from Shriram Transport Finance Company Limited online. It provides step-by-step instructions tailored for users of all experience levels, ensuring a smooth application process.

Follow the steps to fill out your application easily.

  1. Click ‘Get Form’ button to obtain the form and open it in the editor.
  2. Begin by filling in the holder's name in the designated field. Ensure you enter the full legal name as it appears on the Fixed Deposit Receipt.
  3. Input the receipt number associated with your Fixed Deposit. This number is crucial for your application, as it links your loan request to the correct deposit.
  4. State the amount for which you are applying as a loan against your Fixed Deposit. Be clear and precise to avoid any discrepancies.
  5. Enter the maturity date of your Fixed Deposit. This date indicates when the deposit will reach its full term.
  6. Agree to the terms outlined in the application regarding interest payments and other charges by checking the corresponding agreement box, confirming your understanding of the conditions.
  7. Review the section that discusses repayment. Confirm your commitment to repay the loan before the maturity of the Fixed Deposit.
  8. If applicable, provide details regarding any prior pledges of your Fixed Deposit to ensure compliance with the institution’s policies.
  9. Sign and date the form, ensuring that your signature matches the name provided at the beginning. Include your full address in the designated section.
  10. Review all the information filled out in the form for accuracy before saving your changes.
  11. Once completed, download, print, or share the filled-out form as necessary, ensuring you keep a copy for your records.

Start your loan application process online now!

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Loans are typically better suited for the long term. The repayment tenure can range from 5 years to 20 years or more. On the other hand, the overdraft option is a short-term credit facility, and is ideal if you have short-term fund requirements.

Dear Sir, Please open in the name/s shown below a Fixed Deposit Account in ance with the rules of the bank on the following terms and conditions and issue me/us a Deposit receipt. By debit to my/our savings/current/ account no. ______________________ with you.

An overdraft is a variable amount of borrowing agreed with your bank up to a set limit. A loan is a fixed amount of borrowing over a set term with regular repayments. Overdrafts allow you to borrow money as and when you need it up to a limit agreed between you and the bank.

Interest on Utilized Amount: Unlike a loan against FD, where interest is charged on the entire loan amount, an overdraft facility charges interest only on the amount utilized. This means that the unused portion of the FD continues to earn interest as per the original rate.

Loan against FD (Fixed Deposit) is a type of secured loan where customers can pledge their fixed deposit as security and get a loan in return. The amount of the loan depends on the FD deposit amount. This can go up to 90% – 95% of the deposit amount.

Compared to this, an overdraft against FD is a better option. To begin with, you only have to pay significantly lower interest rates. You will have time till the end of the maturity period of the FD to repay the payment. You can prepay without any additional charges as well.

You can repay the loan amount in equated monthly instalments or EMIs. Depending on the lender, you can get up to 90% of your fixed deposit amount as a loan. The terms and conditions, including the loan's interest rate and repayment tenor, vary from lender to lender.

Loan against FD Disadvantages If you default on your loan against fixed deposit, the bank has the right to foreclose your fixed deposit and recover the money. Hence, you can lose out on the entire fixed deposit investment along with the interest income.

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Get Application For Loan Against Deposit Receipt - STFC
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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Application For Loan Against Deposit Receipt - STFC
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