Safe & Secured Loan
Safe & Secured Loan is issued against daily, monthly, yearly deposit accounts to meet the small demand for loans. Generally, 80 percent of the total deposit amount is issued as a safe loan for a month at least and the borrower has to pay the office management cost at the rate of fifteen percent.
If the borrower repays the due principle within a month then the total loan amount is considered as cleared completely and he will be not be charged any more for the same. In case of default, the borrower needs to pay office management costs the remaining months at the time of clearance.
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