Fixed Deposit Type
Applicable Interest Rates
Loan against regular fixed deposits
2% over the FD interest rate
Loan against NRO fixed deposits
2% over the FD interest rate
Loan against NRE fixed deposits
2% over the FD interest rate
Check out the benefits of availing an overdraft against HDFC FDs:
Get instant funds up to 90% of your total FD amount
Manage your financial emergencies without liquidating your fixed deposits
Avail an HDFC overdraft against FD easily using the net banking portal
Continue earning the interest on FD despite a lien marked on the FD
Enjoy the benefits of a low interest rate of up to 2% charged on your FD
When you take an HDFC Bank loan against FD, you are availing a loan without prematurely withdrawing your FD, and that’s the prime advantage of a loan against FD. Here are some key features of a loan taken against a fixed deposit:
You can avail up to 90% of the overdraft based on your fixed deposit
The overdraft limit of 90% applicable on NRO/NRE deposits
Up to 70% of the total FD amount is offered for FCNR deposit holders
Only a minimum amount of ₹25,000 is required in your FD with an FD tenor of 6 months to open a loan against FD
If you have an FD in a single name, then you can get the loan with quick approval through the net banking
You can pay back the loan with interest only for the amount you borrow, while the rest of your FD can continue to earn interest as usual
When you opt for an HDFC Bank loan against FD, you are charged low interest rate that enables you to repay stress-free
You get flexibility as you choose the amount to be repaid with convenient repayment tenures
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.
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The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.
Getting a loan against FD in HDFC Bank involves a simple and easy process. All you have to do is visit the HDFC Bank website and log in to the net banking portal with your user credentials. Then, complete the form by filling in the required details, and await approval.
Yes, you can avail an HDFC loan against FD using the online mode from the comfort of your home.
HDFC Bank offers up to 90% of the total FD value as a loan.
Yes, you can take a loan of up to 90% of your NRE deposit amount.