Loan Against Deposit (LAD)Get a loan against your Deposit at low interest rate.

In just 24 hours. A hassle-free application process and guaranteed approval means that you get the funds you require without delay. Apply for a SHUMANGALAM NIDHI LTD Loan Against Deposit for the best solution to your financial needs, from holidays, to weddings, to making a large purchase, to emergencies.

Salient Features:

     High Loan Value: For a maximum of 90% of the face value of deposit and including the interest accrued on the deposit.

     Minimal Documentation: Single page documentation with guaranteed approval.

     Quick Processing: Money in your bank account in 24 hours, so you get the funds you need quickly and easily.

     Flexible Repayment Options: Repayment tenure up to the remaining tenure of the Deposit, post 90 days from the start of the Deposit.

     No Extra Charges: No foreclosure and part-prepayment charges, to make the loan more affordable for you Fulfil your financial needs easily and quickly.

     Min and Max Loan Size:Every Member can avail loan from Rs. 1,000 to a maximum of Rs. 7.5 Lakhs.

     Quick Processing: Money in your bank account in 24 hours, so you get the funds you need quickly and easily.

     Security: Pledge of Term Deposit/Recurring deposit Receipt.

Eligibility Criteria for Loan Against Deposit (LAD):

     Only Members OF SHUMANGALAM NIDHI LTD can apply for SHUMANGALAM NIDHI LTD Loan Against Deposit (LAD).

     Member must have 90 days old active deposit scheme (i.e. F.D., R.D. & M.I.S) with SHUMANGALAM NIDHI LTD on date of application for Loan Against Deposit (LAD).

Interest Rates:

     The rate of interest on your Loan Against Deposit (LAD) is linked to Deposit Rate against Term Deposit/Recurring deposit and mentioned on the sanction letter provided at the time of loan disbursement.

Supporting DocumentsApplies for all Loan Schemes Offered by SHUMANGALAM NIDHI LTD.

    To abide by the KYC (Know Your Customer) Policy of RBI and approved KYC norms of our Company, we insist to produce one document of identity proof (Such as Ration Card with photo, Driving License, PAN Card, Voter ID card, Passport, Aadhar Card etc.) and one document of residential address proof (Such as Telephone Bill (Should not be more than two months old), Electricity Bill (Should not be more than two months old), Bank account / Credit Card Statement (Should not be more than two months old), Municipal / Local/House Tax Bill / Receipt, Authentic Rent Receipt / Lease Document, Letter from reputed employer/ Public Authority).

    Once you submit your Application Form, Demand Promissory Note and supporting documents, we shall give approval within a matter of minutes provided everything is in order.

    All loan approvals are at the sole discretion of the Branch Head.

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