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    Loan against Fixed Deposit SBI

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    5.5% - 7.5% Quarterly compounding
    Response Time Within 30 minutes
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6.5% - 6.95% Quarterly compounding
    Response Time Within 30 minutes
    Fixed Deposit BYTES FROM OUR KITCHEN

    The State Bank of India- one of the leading public sector back in India offers loans against its fixed deposit or term deposit accounts. You can accomplish a variety of personal tasks by taking a loan against your SBI Fixed Deposit. You don't have to break your fixed deposit to avail a loan.

    Eligibility Criteria for applying for Loan against SBI Fixed Deposit

    The eligibility criteria for applying for applying for a loan against your SBI Fixed Deposit are-

    • Existing customers having SBI’s TDR/STDR / RD account avail loan against SBI FD.
    • Customers having NRE/NRO/RFC and FCNR (B) deposits can also apply.
    • Single and joint account holders- both can apply for loan against SBI Fixed Deposits.

    Key Features of Loan against SBI Fixed Deposit

    Mentioned below are the key features of SBI Loan against Fixed Deposits:

    Loan Type Both demand loan and overdraft loans are available against FD.
    Loan/overdraft amount

    Minimum : Rs 25000

    Maximum: Rs 5 Crore

    Rate of Interest Lower and attractive rates of interest.
    Margin Up to 90% of your time/fixed deposit value.
    Security Lien on fixed/time deposit.
    Repayment period

    Minimum :3 years against TDR/e-TD

    Maximum: 5 years against STDR/e-STDR deposits

    Processing fees Nil

    Benefits of Loan against SBI Fixed Deposit

    Listed below are the major benefits of availing a loan against SBI Fixed deposit:

    • You can get finance up to 90% of the value of your deposit.
    • The bank offers both demand loan and overdraft facility to suit your requirements.
    • Loans are offered at attractive and lower rates of interest.
    • Interest is calculated on daily reducing balance.
    • Loans against SBI Fixed Deposits come with zero processing fees.
    • You don’t have pay any prepayment fees, if you repay your loan before scheduled date.

    Loan against Fixed Deposit SBI Interest Rate

    The State Bank of India charges competitive rates of interest on its loans offered against fixed deposits. Currently the bank charges 1% over the relative time deposit rate. However, these interest rates are subject to change without notifying you in advance.

    Loan against SBI Fixed Deposit FAQs

    1. Can I apply for a loan against my SBI Fixed Deposit online?

      Yes, SBI accepts online application. You can apply for a loan against your FD online. However, currently this online facility is limited to overdraft only. To avail a demand loan, customers need to visit the branch manually and apply.

    2. What are the different channels by using which I can apply for a loan against my SBI FD?

      You can use online banking or visit your nearest SBI branch to apply for a loan against your SBI Fixed Deposit.

    3. Do I need to pay any processing for applying for a loan against FD with SBI?

      No, you don't have to pay any processing fees to apply for a loan against FD.

    4. Can a joint account holder avail this facility of loan against FD with SBI?

      Yes, a joint account holder can also apply for a loans against their SBI FD.

    5. What are the minimum and maximum overdraft limits issued against SBI Fixed Deposits?

      • The maximum overdraft limit is – Rs. 25,000.
      • The maximum overdraft limit is - Rs 5 Crore.
    6. Can I use the Online Overdraft facility against Tax Saving Deposit and Recurring Deposits?

      No, you cannot use the online overdraft facility against Tax Saving Deposits and Recurring Deposits.

    7. Can NRIs avail loans against their fixed deposit opened with SBI?

      Yes, they can avail loans against their fixed deposit schemes opened with SBI.

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