Loan against FD (Fixed Deposit) is a type of secured loan where customers can pledge their fixed deposit as security and get a loan in return. The amount of the loan depends on the FD deposit amount.
A Loan against fixed deposit, can tend to your needs without hampering your FD investment. As compared to other loan options, a loan against FD has lower interest rates. You also do not need to pay any charges for processing and other taxes that might get levied on other loan options.
Who Can Apply
Loan Against Deposit avail up to 85% of Account Holder’s Term Deposit valuation.
The Loan period is till the Maturity of the Term Deposit.
Loan Against Term Deposit ROI is + 2% extra on Term Deposit Interest Rate
@FD ROI + 2
Interest Rate Prevailing for the Loan Period/Scheme
