CBI Ready Money
CBI Secured Overdraft is a temporary form of financing wherein you can avail the facility by maintaining a Fixed Deposit with CBI. The fixed deposit should be under lien against this facility.
Yes, it should be held with CBI.
Should you apply for a CBI secured overdraft you can avail up to 90% of the fixed deposit amount. If you're applying for a CBI ready money you can borrow up to 2x of your salary t hat is transferred to CBI.
The maximum amount that can be granted under the facility is AED 20 Million.
Yes, Salary transfer to CBI is Mandatory.
A Rate of Interest of 26% p.a (2.17% p.m.) would be applicable for this facility.