Earn interest up to 7.75% p.a. by investing in a Bajaj Finance Fixed Deposit | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable)

Loan Against FD

Fixed deposits are one of the most simple and cost-effective ways to improve finances. The loan against an FD works in the same way as any other loan. The borrower receives funds in one lump sum and repays in equal monthly instalments. When banks provide a loan, they usually charge roughly two percentage points more than the FD rate. The interest rate on a loan against an FD would be 9% if a depositor had booked an FD at 7%.

Most people withdraw money from their bank accounts prematurely to cover unexpected expenses, which not only costs them money but also prevents them from earning interest. Furthermore, it carries a penalty, depleting their savings. A loan against a fixed deposit, on the other hand, is a quick and easy financing option that allows you to ride through such unforeseen circumstances without draining your savings. In exchange for the loan amount, the bank deposit must be pledged as collateral or security. The loan is in the form of an overdraft on the amount of the FD.

List of Loan against FD Interest Rates

Following is the list of institutions providing Loan against FD-

Financial Institutions

Interest Rate

Loan Amount

Bajaj Finance FD

75% of the FD amount

₹25,000 onwards

Axis Bank FD

2% above term deposit rate

₹25,000 onwards

State Bank of India FD

1% above the relative FD rate

₹25,000 to ₹5 crore

HDFC Bank FD

2% above the FD rate

Up to 90% of your fixed deposit

Federal Bank FD

2% above the FD rate

Up to 90% of the deposit amount

Karur Vysya Bank FD

5% to 7%

Up to 90% of the deposit amount

Deutsche Bank FD

2% above the FD rate

₹25,000 onwards

Bajaj Finance FD Offers Loan Against FD Facility with an Easy Process

To satisfy your immediate financial demands, you don't have to split your fixed deposits with Bajaj Finance. You can take out a loan against your FDs and receive your funds in as little as 24 hours. Without having to split your FD investments, you can effortlessly fund your financial needs with a loan against a fixed deposit. Bajaj Finance Fixed Deposits allow you to grow your savings while also providing easy liquidity, allowing you to use them as emergency money. Taking out a simple loan against your Fixed Deposits might provide you with more flexibility and consistent returns. To calculate how much FD interest one can earn, one can always utilise an FD calculator.

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