Loan Against Fixed Deposit — Quick Funding Without Breaking FD
Apni Fixed Deposit todne ki zarurat nahi — Loan Against FD facility ke through 70-90% of FD value tak credit le sakte ho. Quick processing, lower rates.
Overview
Loan Against Fixed Deposit (LAFD) ek secured loan facility hai jo apni existing FD ko collateral rakh ke avail ki ja sakti hai. FD premature break karne ki zarurat nahi — FD chalti rehti hai aur interest accrue hota rehta hai. Bank/NBFC typically FD value ka 70-90% loan amount sanction karta hai. Most Indian banks aur scheduled commercial banks yeh facility offer karte hain. Interest rate FD rate se thoda zyada hoti hai (typically FD rate + 1-2%).
Key Details
| Category | Detail | Description |
|---|---|---|
| Loan-to-Value (LTV) | 70-90% of FD value | Lender-specific |
| Interest Rate | FD rate + 1-2% typically | Lower than personal loan |
| Tenure | FD tenure ke equal ya less | Cannot exceed FD maturity |
| Processing | Same day to 24 hours | Faster than other loans |
Note: Indicative figures from publicly available sources. Subject to revisions and lender/regulator discretion.
Eligibility
- FD holder of the same bank where loan applied
- FD should be unencumbered (not pledged elsewhere)
- FD tenure remaining: typically minimum 3-6 months
- Resident Indian + NRI both eligible (NRE/NRO FDs)
- Joint FD me both holders' consent required
- Tax-saver FDs (5-year lock-in) typically NOT eligible
Required Documents
- FD receipt / certificate (original)
- PAN + Aadhaar
- Loan application form (bank-specific)
- Income proof (sometimes optional given collateral)
- Photographs
- Bank account details (for disbursement)
Specific documentation may vary. Verify with implementing authority/lender.
Application/Application Process
- Apne bank ki branch visit karo (jahan FD hai)
- Loan Against FD application form bharo
- Original FD receipt submit karo (bank ke paas pledge ho jata hai)
- Bank internal verification + LTV calculation
- Sanction + disbursement (typically same-day)
- Loan EMI start hoti hai, FD interest accrual continue rehta hai
Key Benefits
- FD intact rehti hai — interest earning continue
- Lower interest rate than personal/business loan (FD rate + 1-2%)
- Minimal documentation
- Same-day disbursement possible
- No prepayment penalty typically
- Flexible repayment — overdraft facility ya term loan option
🚀 General Guidance Needed?
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💬 WhatsApp Free AdvisoryFrequently Asked Questions
LAFD me kitna loan mil sakta hai?
Typically FD value ka 70-90%. Exact LTV bank-specific hota hai. Higher value FDs ke liye 85-90% common hai.
Kya FD break karne se better hai?
Usually yes — FD interest continue rehta hai aur loan rate FD rate se sirf 1-2% zyada. FD prematurely break karne pe penalty + lower interest milta hai. Net basis pe LAFD typically sasta padta hai.
Tax-saver FD pe loan mil sakta hai kya?
Generally nahi. 5-year tax-saver FDs (80C deduction wali) lock-in period me hain — most banks unpe LAFD nahi dete. Regular FDs pe yeh facility available hai.
Interest rate kaise calculate hoti hai?
Bank ki current FD rate + spread (typically 1-2%). Example: FD rate 7% + spread 1.5% = LAFD rate 8.5%. Exact rate bank's current policy par depend karta hai.
Kya NRI ko LAFD milti hai?
Haan. NRE aur NRO FDs pe LAFD available hai. NRE FD pe rupee loan available, NRO FD pe both rupee aur foreign currency loan possible (FEMA regulations apply).
Joint FD pe loan kaise apply karein?
Joint FD holders ke beech 'Either or Survivor' ya 'Former or Survivor' clause hota hai. Loan ke liye usually both holders ki consent required hoti hai. Bank-specific process verify karo.