® 
A Loan against Fixed deposit in India is generally taken when you don’t have a good credit score, when you cannot pledge anything as security or collateral to obtain a loan, or when you don’t have a source of stable income. It comes with lower interest rates as compared to other loan options with rates being 1% or 2% above the FD rate. You can repay the FD in 60 months. Many banks offer loans against FDs. Here are some of the top banks.
|
Banks |
Loan Amount |
Interest Rate |
|
Axis Bank |
Rs. 25,000 onwards |
2% above the term deposit rate |
|
HDFC Bank |
Up to 90% of your fixed deposit |
2% above the FD rate |
|
Federal Bank |
Up to 90% of your fixed deposit |
2% above the FD rate |
|
Deutsche Bank |
Rs. 25,000 onwards |
2% above the FD rate |
|
Karur Vysya Bank |
Up to 90% of your fixed deposit |
5% to 7% |
|
State Bank of India |
1% above the relative FD rate |
Rs. 25,000 to Rs. 5 crores |