Question

In case of recurring account, the loan can be given up to _______ percent of the amount standing to the credit of the account holder.​

Answer 1

Answer:

80 to 90%

Interest is compounded on quarterly basis in recurring deposits. One can avail loans against the collateral of a recurring deposit up to 80 to 90% of the deposit value. The rate of interest offered is similar to that of fixed deposits.

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