| Penal interest 18% p.a. plus tax on the amount drawn
in excess of the Limit. This will be calculated on a daily product basis.
Important Note:
Monthly interest charge has to be serviced in full by way of credit
to the Overdraft Account in the immediately following month, failing
which the Accounts are liable to be classified as NPA. In such cases,
Bank will exercise its right to sell / redeem the gold in the market
after providing reasonable notice to Clients.
|
