Opening a fixed deposit with Canara Bank has never been so beneficial. Now customers can take a loan against the fixed deposit account opened with Canara Bank. Fixed deposits come with assured investment returns with attractive interest rates, as compared to regular savings account. When it comes to fixed deposits offered by different banks, Canara Bank’s term deposit is ideal.
The eligibility criteria for applying for a loan against the fixed deposit offered by Canara Bank, include:
Listed below are the main feature of HDFC Loan against Fixed Deposit:
Minimum – Rs. 1000
Maximum – No ceiling
|Rate of Interest||Competitive/attractive|
|Period of Deposit|
Minimum: 15 days (7 days in case of deposit of
Rs 5 lakh and above.
Maximum: 120 months.
|Facility for Nomination||Available|
There are a number of benefits of taking a loan against your Canara Bank Fixed Deposit. Here are a few of the perks:
The bank offers attractive rates of interest on its loan against fixed deposits. The interest rates charged by the bank on loans against fixed deposits are subject to change, as per the bank’s discretion.
Yes, Canara Bank accepts online application for loan against fixed deposits.
The bank offers up to 90% of the total value of your deposit as loan.
Yes, the bank allows premature withdrawal of fixed deposits, provided there is an unpaid overdraft against your deposit.
Canara Bank allows part withdrawal of deposits in multiples of Rs. 1000. The rest of deposit that remains with the bank earns a contracted rate of interest.
The interest is paid on a monthly, quarterly, half-yearly, or annual basis. The depositor can choose when he wants to get the interest.