Feb 2, 2019
Insurance premium funding
For funding of Insurance Premium subject to ensuring proper KYC compliance.
All local legal entities (Corporates / Individuals) who are complying with Bank norms, KYC etc
80% of the Annual Insurance Premium (Maximum)
RATE OF INTEREST:
- The loan is to be repaid in EMIs within 10 months. Repayment to start One month after the first disbursement / date of issue of policy whichever is earlier.
- PDCs for EMIs have necessarily to be presented to bank.
Tripartite Agreement entered in to between Borrower, Insurance Company and Bank