Home || Loan against Fixed Deposit
The Fixed Deposit Account holders are granted 90% of the face value of the receipt as overdraft as contingency at 1% higher rate of interest than that of Fixed Deposit with options to liquidate the overdraft before maturity or lump sum on maturity. The facility allows the customer to meet immediate financial need to contain financial emergency without disturbing the continuity of the deposit receipt. The fixed deposit certificate is required to be discharged in full and surrendered to the bank among other formalities.
Eligibility: Any individual or corporate having fixed/recurring deposit with us
Quantum: 90% of fixed deposit amount or accumulated recurring deposit amount
Rate of Interest: ( Click here to refer interest rate chart)
Security: Pledge of term deposit