SBI Canada Bank customers can avail Loan against their non-redeemable deposits in Canada and against FCNR / NRE deposits held in India.
Customers can use these loans for their consumption needs, repayment of credit card dues, purchase of consumer durables, investment purposes and any other personal expense.
Loan against your GIC with SBI Canada Bank
SBI Canada Bank’s customers can avail loans up to 95% of their Guaranteed Investment Certificate (GIC) deposits held either in CAD / USD. Preserve your savings while paying off the interest amount each month.
Loan against deposit held with SBI Branch in India
SBI Canada Bank’s customers can avail loans up to 75% of their FCNR / NRE deposits held at State Bank of India. For deposits held in currency other than CAD /USD, the loan will be granted in CAD only.
- SBI Canada Bank CAD Prime Rate is 6.70% with effect from January 26, 2023.
- SBI Canada Bank USD Prime Rate is 8.25% with effect from May 04, 2023.
To know more about the product, rates & charges, please contact your branch.
Please note that the approval of loan against deposits is subject to terms & conditions.