HDFC Bank Loan Against FD Interest Rate

Check out the benefits of availing an overdraft against HDFC FDs: 

1. Get instant funds up to 90% of your total FD amount

2. Manage your financial emergencies without liquidating your fixed deposits

3. Avail an HDFC overdraft against FD easily using the net banking portal

4. Continue earning the interest on FD despite a lien marked on the FD

5. Enjoy the benefits of a low interest rate of up to 2% charged on your FD

Before taking an HDFC OD against FD, you need to be aware of the eligibility criteria. Here’s a quick overview:

• You need to have an existing fixed deposit account with HDFC Bank

• You can avail a loan if you are a resident individual, NRO or NRE customer

• You can utilise the loan facility if you are a part of a Hindu Undivided Family (HUF)

• Public and private limited companies can also avail a loan against HDFC fixed deposit

When availing an HDFC Bank loan against FD, you get the advantage of a flexible repayment schedule. As mentioned earlier, you are charged interest only on the borrowed amount. This simply means you can continue enjoying the current interest rate on the unborrowed amount.

Note that you can modify the deposit tenor and payment instructions when you avail an HDFC OD against FD. Plus, you get the flexibility to choose either a current or savings account to be linked to your FD.

What’s more, there’s no need to stress about the OD cancellation facility. You can instantly cancel your OD facility through net banking as a single deposit holder.

With an HDFC loan against FD, you can avail up to 90% of your total FD amount. All you require is an HDFC FD with ₹25,000 to avail an overdraft facility. 

Plus, your FD tenor has to be for at least 6 months. However, only up to 70% of the FD value is sanctioned as an OD for FCNR deposits. In the case of NRO or NRE deposits, you can avail up to 90% of the FD value, similar to regular deposits.

Follow this simple process to take a loan against the HDFC fixed deposit:

• Visit the HDFC portal

• Select the ‘Deposits’ tab beneath the ‘Save’ section

• Click on the ‘Fixed Deposits’ option

• Choose the option ‘Overdraft Against Fixed Deposits’

• Select ‘Apply Online’

• Log in with your credentials and access the net banking account

• Fill in the form correctly and click on the ‘Submit’ option

Taking an HDFC loan against FD is easy without liquidating your account during financial emergencies. 

Here, you can compare various issuers and choose an FD plan with attractive interest rates and umpteen other benefits. Additionally, you may check the marketplace for details regarding fixed deposits and loan products.