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A loan against fixed deposit in the name of a minor does not qualify for a loan against FD. Also, investors of a 5 year tax saving FD cannot apply for this loan.
All other individuals who are FD holders including those who have joint accounts can apply for a loan against fixed deposit.
How To Obtain A Loan Against Fixed Deposit?
You can apply for a loan against fixed deposit online except in some cases where you can apply for a loan against fixed deposit by visiting the branch. Some top banks in which you can apply for a loan against fixed deposit online through their websites are, SBI, HDFC Bank, Axis Bank, and Deutsche Bank. In the case of Federal Bank, you will have to visit the nearest branch of the bank.