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At times, you may consider liquidating your fixed deposit to accommodate an unanticipated emergency. However, this results in losing out on the interest income you may have received after its maturity. 


Although, you can still tend to your emergency expenses without breaking your FD investment by taking a loan against your fixed deposit. A loan against FD is a secured loan where your FD acts as collateral in return for your loan amount. 


State Bank of India also offers such loans against FD for its customers. With a loan against an SBI fixed deposit, investors can meet their expenses without liquidating their FDs. Another exciting aspect of an SBI loan against FD is that its rate of interest is lower than other kinds of loans that are present in the financial sector. 


Given below are the features of an SBI loan against FD and other essential details.

SBI Loan Against FD Interest Rates

Fixed Deposit Type

Applicable Interest Rates

Loan against regular fixed deposits

1% over the FD interest rate

Loan against NRO fixed deposits

1% over the FD interest rate

Loan against NRE fixed deposits

1% over the FD interest rate

Loan against FCNR (B) deposits

2.90% over the 1 year-MCLR mark

Disclaimer: Note that the current Marginal Cost of Funds Based lending Rate (MCRL) is fixed at 8.30%.

Benefits of Loan Against SBI Fixed Deposit

Here are a few advantages of availing a loan on SBI FD:

  • Loan amount of up to 95% of your total FD value

  • Can get a demand loan or an overdraft against SBI FD, depending on your needs

  • Interest rate charged at 1% above the prevailing FD rate

  • Zero loan processing charges with nil prepayment penalties 

  • Fixed repayment tenure based on your repayment capacity

  • Minimum loan amount of ₹5,000 for availing an online overdraft facility

  • Maximum amount of up to ₹5 Crores sanctioned for an online overdraft loan

  • Can earn interest on your existing fixed deposit used for the loan

Features of SBI Loan Against FD

Types of Loan Available

SBI offers both demand and overdraft loans against a fixed deposit. For an online overdraft loan on SBI FD, the minimum amount is ₹5,000, while the maximum limit is ₹5 Crores.

Maximum Amount of Loan

The maximum amount of loan that you can avail is 95% of the value of your term deposit. This means that the higher the amount you have in your fixed deposit, you can avail a higher SBI loan against FD when the need arises.

Available Channels

You can opt for a loan against SBI fixed deposit through online and offline channels. While you can always visit your nearest SBI branch to avail the loan, you may also apply for one using the net banking portal of SBI. 

Processing Fee

Note that the processing charges levied on a loan against  SBI fixed deposit are nil. Similarly, there are no prepayment charges when availing an overdraft against SBI FD.

SBI Loan against FD: Eligibility Criteria

When availing an SBI loan against FD, ensure that you meet the following eligibility parameters:

  • You need to have a fixed deposit account with SBI

  • You must be at least 21 years to avail an SBI loan against FD

  • All sole proprietorship and partnership firms can avail an overdraft against SBI FD

  • The FD against which you apply for a loan should not have matured when availing a loan

  • If you hold RD or FCNR deposits, you are still eligible to apply for an FD

SBI Loan Against FD: Repayment Option

The repayment time is the period during which you must complete your loan repayment. Like other credit facilities, you have to follow a fixed repayment period when availing an SBI loan against FD. 


However, SBI proposes the repayment schedule after properly analysing your financial standing. This helps reduce the burden on your monthly budget. 


So, when availing a special SBI term deposit online or offline, you need to repay the loan within a maximum period of 5 years. However, in the case of a regular term deposit booked online or offline, there is a repayment tenor of 3 years.


Knowing the repayment options before availing a loan on SBI FD helps you manage and plan your finances efficiently.

How Much Loan can You Avail Against SBI Fixed Deposits?

When availing a loan or overdraft against SBI FDs, the minimum loan amount disbursed is ₹5,000. Note that you can avail a maximum loan amount of up to ₹5 Crores when pledging your fixed deposit as collateral.


Another interesting feature of availing a loan against SBI fixed deposits is that you can get up to 95% of the total FD amount as the loan. With all the unique features and minimal documentation, getting a loan against SBI FDs is easy and quick.

How to Apply for an SBI Loan Against FD?

Follow the process mentioned below to avail a loan against SBI FDs:

  1. Log in to the SBI net banking portal with your credentials

  2. Navigate to the e-fixed deposit section 

  3. Select the ‘Overdraft Against Fixed Deposit’ tab

  4. View the list of FDs booked with SBI

  5. Choose a specific FD from the list

  6. Click on the ‘Proceed’ tab

  7. Check the details such as overdraft amount, applicable interest rate, etc.

  8. Tap on the ‘Submit’ button

  9. Key in the password sent to your mobile number


That’s all it takes to open your loan account. So, follow these easy steps from the comfort of your home and avail a loan against SBI FD in no time! You can get more details regarding the process on Bajaj Markets.


The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort. 

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. 

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You can get a loan amount of up to 95% of your total FD value from SBI.

Yes, the bank pledges your FD as collateral for the loan amount you avail.

Yes, compared to other credit facilities, a loan against SBI FDs is a reliable option as you are charged low interest rates. Moreover, you also get an adequate amount with a flexible repayment schedule when availing a loan against FD.

Yes, as long as the NRI fixed deposits are active, you can avail a loan if you are an NRI customer.

You can get up to 95% of your total FD value as a loan from SBI.

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