SOD is a continuous credit facility allowed to an individual against financial obligation (FDR & Scheme deposits of MBL and instrument of other banks).

Purpose

To meet up instant financial requirements

Loan Limit

Maximum 90% of encashment value of the deposits.

Tenure

01 year or less

Interest Rate

3.00% higher than the rate of FDR and 4.00% higher than the rate of scheme deposit of MBL. For other bank’s instrument, interest will be 11.50% p.a. (Mid rate).