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    Loan against Fixed Deposit Canara Bank

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    5.25% - 7.8% Compound yearly
    Response Time Within 30 minutes
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    7% - 7.3% Compound yearly
    Response Time Within 30 minutes
    Fixed Deposit BYTES FROM OUR KITCHEN

    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.

    Eligibility criteria for applying for Loan against Canara Bank Fixed Deposit

    The eligibility criteria for applying for a loan against the fixed deposit offered by Canara Bank, include:

    • Must be a citizen of India

    Key Features of Loan against Canara Bank Fixed Deposit

    Listed below are the main feature of HDFC Loan against Fixed Deposit:

    Loan Type Overdraft
    Loan/overdraft amount

    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.

    Premature withdrawal Allowed.
    Facility for Nomination Available

    Benefits of Loan against Canara Bank Fixed Deposit

    There are a number of benefits of taking a loan against your Canara Bank Fixed Deposit. Here are a few of the perks:

    • The customer can earn attractive interest rates on the loan availed against fixed deposit.
    • The customer can opt for monthly, quarterly, half-yearly or annual interval payments, according to his choice.
    • Premature withdrawal of deposit can be done, provided there is an outstanding overdraft against the deposit.
    • Loans can be applied online

    Loan against Canara Bank Fixed Deposit interest rates

    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.

    Loan against Canara Bank Fixed Deposit FAQs

    1. Does Canara Bank accepts online application for loan against fixed deposit?

      Yes, Canara Bank accepts online application for loan against fixed deposits.

    2. What is the maximum loan amount offered against fixed deposit by Canara Bank?

      The bank offers up to 90% of the total value of your deposit as loan.

    3. Can i withdraw the fixed deposit prematurely in case of an economic emergency?

      Yes, the bank allows premature withdrawal of fixed deposits, provided there is an unpaid overdraft against your deposit.

    4. Will there be interest applicable on the remaining 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.

    5. What duration does Canara Bank follow while paying interest on loan against fixed deposit?

      The interest is paid on a monthly, quarterly, half-yearly, or annual basis. The depositor can choose when he wants to get the interest.

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