for hold-out deposit

Criteria

Secured by hold-out deposit(s) either time or savings deposit.  The applicant/borrower must be a depositor of ICCB. 

Mode/terms of payment

  • lumpsum

requirements/Conditions

  • The original copy of the certificate of time deposit (CTD) or savings passbook subject to the hold-out or assignment shall be surrendered to the Bank, and a duly notarized deed of assignment or hold-out agreement in favor of the bank shall be duly executed by the borrower;

     

    If the term of the CTD subject to hold out or assignment is shorter than the term of the loan, there shall be agreement in writing that the renewal of time deposit upon maturity shall coincide with the term of the loan; and

     

    No pre-termination of the time deposit unless the loan is fully paid or acceptable substitute collateral is presented.

Downloadable Form

Loan form.pdf