1. Interesting! Safe, simple and practical. It is indeed a smart move from banks to give such facility. The only question which comes to my mind is, if loans are given against recurring deposits, then which one is better, overdraft or loan? What will be the difference between the two? From the article, I found few areas are overlapping. More clarity in this area would prove beneficial for someone who is planning for credit facilities from banks.

  2. A personal loan against recurring deposit as a collateral and interest rates is even not high. The loan can be easily availed without any processing fee. The flexible repayment scheme and overdraft facility are some of the main features of this type of loans.


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