Ace Development Bank


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Loan Against Fixed Deposits/ Gold ETF

Are you in need of financing but have your funds locked in fixed deposits or in the form of Gold ETF? Ace provides credit facilities to customers against pledge of Fixed Deposit placed with Ace and / or with other banks / finance companies acceptable to us as well as Ace Gold ETF Certificate.

Who can apply for the loan?
The applicant must hold a Fixed Deposit account at Ace or at other banks / finance companies acceptable to Ace or an Ace Gold ETF Certificate.

The tenure of the loan can be maximum of 1 year.

Transaction size
Loan amount shall not exceed 95% of the value of the Fixed Deposit. In case of Ace Gold ETF, the loan amount shall not exceed 75% of the value of the Gold ETF Certificate (conditions apply).

The client should provide the original Fixed Deposit Certificate / Receipt or the Gold ETF Certificate as security.

Interest rate
•    Against Fixed Deposit placed with Ace:
     Interest rate of 10% or additional 2% per annum which ever is higher over the rate provided on the deposit.
•    Against Fixed Deposit with other banks / finance companies:
     Interest rate of minimum 3% per annum over the highest rate offered by Ace on 1 year fixed deposit placed with
•    Against Gold ETF:
     Interest rate of minimum 14% or more per annum (conditions apply)