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    Loan against Fixed Deposit ICICI

    ICICI Bank offers loans against fixed deposit to customers who have deposit accounts with the bank. The bank offers loans against fixed deposits at its sole discretion. Loans are available up to 90% of the overall value of the deposit.

    Eligibility criteria for applying for Loan against ICICI Fixed Deposit

    An applicant should have a fixed deposit account with ICICI Bank to avail this loan. NRI account holders with NRO, NRE or FCNR deposits can also apply for loan against fixed deposit accounts.

    Features of Loan against ICICI Fixed Deposit

    Loan Type Overdraft/Demand loan
    Loan/Overdraft amount 90% of deposit value
    Rate of Interest At bank’s discretion
    Repayment period As per loan terms. Before maturity of the deposit.

    Benefits of ICICI Bank loan against FD

    There are several benefits associated with ICICI Bank loan against FD.

    • Loans can be availed by account holder or third party individuals in case of NRI accounts.
    • Up to 90% of deposit value that includes both principal and accrued interests can be availed as loans. Upper limit is subject to Rs.5 crore for NRI deposit accounts.
    • Easy process of disbursal.
    • Hassle free application.

    Loan against Fixed Deposit ICICI Bank Interest Rate

    The interest rate will be quoted by the bank. In general, loans against fixed deposits are available at 2-3% premium over the interest offered to the deposit.

    ICICI Bank Loan against FD FAQs

    1. I have recently opened an FD account with ICICI. Can I avail loan against this account?

      Yes, you can apply for a loan up to 90% of the value of the deposit. The application will be processed by the bank on an individual basis and the loan will be disbursed if the bank is satisfied with the application.

    2. I am an NRI. Can I apply for loan against FD?

      Yes, if you have a rupee account (NRE or NRO deposit) or foreign currency account (FCNR) you can avail a loan of up to Rs.5 crores against this amount, as per the account balance. Third party individuals or corporates can also avail this loan on your behalf.

    3. As an NRI, how do I repay the loan amount?

      Repayments can be done through remittances from abroad or by adjusting against the balance of the FD.

    4. If the loan against NRI FD was sanctioned for third party, how will the repayment look like?

      The loan can be repaid through the local rupee account of the individual

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