Loans

Deposit Loan

Avail Loan up to 90% of the value of your Time Deposit • Low interest rates. • Zero processing charges

• The borrower will have the option of repaying the loan on either a daily or weekly basis, or as per the repayment structure designed by the lender.

Getting loans against fixed deposits (FD) from banks. This is a time-efficient way of getting a short-term loan. Instead of breaking the FD prematurely, depositors can easily apply for a loan against their FD with the bank.

• Lower interest rates compared to other types of loans like personal loan (0.5% – 2% above the applicable FD rate)
• No need to break FD and go for premature withdrawal thus suffering a loss of interest on FD
• No processing fees charged
• Can be availed against domestic as well as NRI FDs
• Can be repaid as a lump sum or in instalment (not later than FD tenure)

When availing loan against fixed deposit, banks keep customer’s FD as the collateral. This makes the loan thus raised secured. Since it’s a secured loan, interest charged for the same is cut short. In case the loanee is not able to repay the loan amount, the bank can easily procure it from the FD amount. Usually, this amount is settled at the time of maturity.