Get a loan against your fixed deposit
If there’s any financial emergency, instead of withdrawing your FD before its maturity, you can use it as collateral to get a loan. This facility ensures that you get funds at a low-interest rate and don’t lose on your fixed deposit.
The loan amount depends on your fixed deposit amount, while the repayment tenure can last until the FD maturity date. However, you can apply for a loan against fixed deposit, once your deposit completes three months lock-in period. You can apply online for a loan against your fixed deposit by visiting our customer portal – My Account.
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A step-by-step guide to applying for a loan against FD
- Click on the ‘Sign-in’ button on this page to visit our customer portal.
- Enter your registered mobile number and submit the OTP to sign-in.
- Verify your details by sharing your date of birth and proceed.
- Select your FD from ‘My Relations’ against which you want to apply for a loan.
- Click on the ‘Loan against FD’ option in the ‘Quick Actions’ section.
- Enter the required details and review your bank account details.
- Verify your details with the OTP sent to your registered mobile number and proceed with the loan agreement and bank details confirmation.
You can also directly visit our customer portal by clicking on ‘Apply for a loan against FD’ below. Once signed-in, you’ll be redirected to the ‘My Relations’ section. You can then select your FD, click on ‘Loan against FD’ within ‘Quick Actions’, enter the required details, and proceed.
Once you complete the application process, you’ll receive the funds within 24 business hours. In case your FD has a joint account holder, they’ll also receive the OTP for verification.
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You can apply for a LAFD of up to 75% for a cumulative deposit. In case you have a non-cumulative deposit, you can get a loan of up to 60% of your deposit amount.
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Check your fixed deposits
Visit our customer portal and track your FD details easily.
Frequently Asked Questions
You can typically get a loan of up to 75%-90% of your fixed deposit's value, depending on the bank's policy and the terms of your FD.
The interest rate on a loan against FD is usually 1% to 2% higher than the FD interest rate, making it more affordable than unsecured loans.
The repayment tenor usually aligns with the FD’s maturity period, but some lenders may offer flexible tenures based on the borrower's needs.
Yes, senior citizens can apply for a loan against FD, often enjoying higher interest rates on their FDs and the same loan benefits as regular applicants.
