Overdraft/Cash Credit

At the request of customers, Advances may be granted against term deposits lying to the credit of the borrowers in the books of the Yamuna Nagar Central Cooperative Bank Branch. Documents should invariably be executed in presence of the bank officer only. The documents should not be handed over to the borrower for obtaining the signatures of the other borrowers. Further, borrowers must be identified as per KYC norms and it is to be ensured that the person signing the documents is genuine one.
Branch Managers are advised to be more vigilant in sanctioning overdraft limit/documentation and follow bank guidelines meticulously.

1 FOLLOWING ADVANCES MAY BE TREATED ASADVANCES AGAINST BORROWER’S OWN DEPOSITS:

i Advances made to a depositor against a deposit standing in his name singly or jointly with other depositor(s).

2 ADVANCE AGAINST DEPOSITS TO ILLITERATE PERSONS

In case of illiterate person, his thumb impression be taken in the presence of Branch head of the lending office as well as one independent witness i.e. account holder of the Bank.

3 COMPENSATION AWARDED BY COURT/TRIBUNAL
Branches are advised that whenever a Fixed Deposit is made on account of compensation awarded by some Court/ Tribunal, no loan or advance should be granted on the strength of said Fixed Deposit without the express permission of the Court/Tribunal, which ordered the deposit

For Eligibility Download the documents in download option