Term deposit pledge prohibition: term deposits cannot be used to secure loans under the bank term deposit scheme. The Bank Term Deposit Scheme provides a scheme-based restriction that the term deposit shall not be pledged to secure loan or as security to any other ... Summary
Term deposit pledge prohibition: term deposits cannot be used to secure loans under the bank term deposit scheme.
The Bank Term Deposit Scheme provides a scheme-based restriction that the term deposit shall not be pledged to secure loan or as security to any other asset, prohibiting use of qualifying term deposits as collateral and affecting pleadings and compliance regarding their treatment under the Scheme.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.