HDFC Bank in pact with India Post

HDFC Bank has tied with up with India Post, Karnataka Circle, to offer loans to investors in small savings schemes. The loans would be in the nature of overdraft facilities against National Savings Certificates and Kisan Vikas Patras, according to Mr Biju Pillai, Vice-President and Business Head, HDFC Bank. The loans would be extended up to 90 per cent of the value of the savings scheme certificates and interest would be charged on the amount drawn.