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Loan Calculator
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Loan Against Fixed Deposit
At our bank, we understand that life is full of unexpected situations that may require immediate financial support. That’s why we offer a loan against your fixed deposit, which is a convenient and hassle-free way to meet your urgent financial needs. With this loan, you can avail of funds quickly and easily without having to break your fixed deposit.
You can borrow against your own fixed deposit or even a third-party fixed deposit as per the terms and conditions. So, whether you need to cover medical expenses, home renovation costs, or any other unforeseen expenses, our loan against fixed deposit is the perfect solution for you.
You can borrow against your own fixed deposit or even a third-party fixed deposit as per the terms and conditions. So, whether you need to cover medical expenses, home renovation costs, or any other unforeseen expenses, our loan against fixed deposit is the perfect solution for you.
- Fixed Rate of Interest
- Zero Processing Fee
- No Foreclosure Charges
- Hassle-free Process
- Quick Funding
- Flexible repayment options
Term Loan
At our bank, we offer a term loan, which is a type of loan that provides the borrower with the flexibility and financial support they need to fund their requirements. This loan is usually disbursed in a lump sum, which allows you to get the funds you need to utilise without having to worry about managing multiple disbursements.
Over Draft Limit
We also offer the overdraft facility a flexible credit product that provides borrowers with access to a pre-approved line of credit. With this revolving credit facility, you can withdraw funds up to a predetermined limit as and when needed. This means that you only pay interest on the amount borrowed, and the interest is calculated on a daily basis.
To sanction a term loan, we will require your KYC documents such as PAN card, Aadhaar card, rental agreement/electricity/telephone bill/election card, other relevant applicable documents and original duly discharged FDR.
The extent of the loan offered is a crucial factor for borrowers to consider when taking out a loan. In the case of a loan against a fixed deposit account, the extent of the loan offered is up to 90% of the credit balance in the fixed deposit account.
When availing of a loan against a fixed deposit, the security offered by the borrower plays a crucial role in determining the extent of the loan that can be granted. In this case, the bank keeps the pledge or lien of the fixed deposit receipt as security, which is duly discharged by the depositor or third party. This provides the bank with a safety net and ensures that the loan is protected against default. In addition, the bank may also require a third-party agreement wherever applicable, which helps to further safeguard the loan.