Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
  • loading

    Personal Loan against Fixed Deposit

    We found 111 Personal Loan against Fixed Deposit

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 20 Years
    5% - 8.15% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.5% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4.25% - 7.35% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    15 Days to 20 Years
    4.25% - 6.9% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.5% - 7.10% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6% - 6.4% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year onwards
    6.25% - 6.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.35% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.85% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
     Loading your search... Loading your search...
  • Customer Reviews

    • ICICI Bank Fixed Deposit
      "Good one"
      0.5 3.5/5 "Pretty good"
      I have fixed deposit account with the ICICI bank and I got it from them because I had the salary account with them. Within two days of time fixed deposit account got opened and the maturity period is around one year of time. Interest rate is around 8% with them and am not that much happy with that. I would like to suggest that they can increase the rate of interest for the deposits.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2017
    • SBI Fixed Deposit
      "Too much of process involved"
      0.5 2.5/5 "Just OK"
      At other private bank a fixed deposit could be opened online and a customer does not have to visit the bank. In my case I had to visit State bank of India to open a fixed deposit and it has a lot of process involved. Like wise to close the same it is the same scenario.
      Was this review helpful? 2
      , pune
      Reviewed on May 10, 2017
    • SBI Fixed Deposit
      "Good "
      0.5 5.0/5 "Blown Away!"
      I am having fixed deposit account with the State bank of India and the interest rate is around 6.2% for the tenure of five years of time. I have opened this account through online, so it got happened very immediately. Charges are nil with them and I can get the money withdrawal in fraction of seconds.
      Was this review helpful? 4
      , pondicherry
      Reviewed on May 09, 2017
    • SBI Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Long back I had Fixed deposit account with State bank of India. I selected the tenure period for six years. The bank had fixed a good rate of interest. At last I received the money with the promised interest amount. I am much satisfied with SBI for the FD service.
      Was this review helpful? 3
      , hyderabad
      Reviewed on May 09, 2017
    • Bank of Baroda Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had Fixed Deposit account with Bank of Baroda about quite long back. The tenure period is six years and the fixed amount is four to five lakhs. The percentage of interest rate is quite good and they returned the money back with the promised interest amount.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 09, 2017
    • ICICI Bank Fixed Deposit
      "Average "
      0.5 2.0/5 "Expected more"
      I have withdrawn my fixed deposit account with the ICICI bank and the interest rate was around 7%. It took around one to two hours of time to open the account through online. There are no charges while withdrawing the amount , also it took around one month of time to get it.
      Was this review helpful? 1
      , pudukkottai
      Reviewed on May 08, 2017
    • IDBI Fixed Deposit
      "Very Responsive"
      0.5 4.0/5 "Great!"
      I deposited some amount with IDBI bank as a fixed deposit. Actually I deposited this amount for future savings also I will be getting some good interest rate at the end of the year. I got good support from the bank executives and they provided all the information regarding FD.
      Was this review helpful? 1
      , indore
      Reviewed on May 04, 2017
    • YES Bank Fixed Deposit
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      Yes bank have some banking issues with them I believe. I have savings account, recurring and fixed deposit account with them. I never received quick response from the bank. But the bank is good for my fixed deposit account. Simply I opened an account with them and getting better service on it.
      Was this review helpful? 1
      , indore
      Reviewed on May 04, 2017
    • Kotak Fixed Deposit
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have savings account with Kotak Mahindra bank. Even I have fixed deposit account as well. The period of FD is for one year. The bank is assigned relationship manager for me as I have so many accounts with them. I got good response from them for my FD. 1 years, 1years, relationship manager
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • SBI Fixed Deposit
      "Satisfactory Service"
      0.5 5.0/5 "Blown Away!"
      Even I have fixed deposit with State bank of India. The tenure period is one year. I deposit certain amount with them as their interest rate is good and incomparable. SBI gives good response to the people and they are very supportive as well. I have no issues with SBI.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • Punjab National Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit with Punjab National Bank. I have deposited ceratin amount on my account. I got good response from the bank when I opened FD. The bank was so supportive and they provided all the information regarding FD. The interest rates too are pretty attractive.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • SBI Fixed Deposit
      "Average "
      0.5 1.0/5 "Really Bad"
      I had invested in fixed deposit with the State bank of India and the interest rate is very less like its around 7.15%, also the returns are also very less, which will be also applicable with the tax. Services provided by them is really not good and I would like to suggest that they need to provide the customer service in a much better way.
      Was this review helpful? 2
      , bhopal
      Reviewed on May 03, 2017
    • SBI Fixed Deposit
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      In terms of interest rate and everything State Bank of India is fine to have the fixed deposit and the service aspects are working fine with them. I am having this account from the last six to seven years of time and the response is always very good with the State Bank of India.
      Was this review helpful? 2
      , mundra
      Reviewed on May 03, 2017
    • HDFC Bank Fixed Deposit
      "Excellent to Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the HDFC bank and the interest rate is differed according to the offers. All of my deposits will be taken care by my relationship manager. Total tenure is around five years of time and its a kind of small deposits. Net banking services are an excellent one with them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 26, 2017
    • Punjab National Bank Fixed Deposit
      "Customer service should be good and unique for everyone"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the Fixed deposit and they have provided around 8.5% as interest rate. Services are perfect one for me and I do have good relationship with them because my relatives are working there. Net banking services are also working good and they are started to exhibit most of the services there.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 26, 2017
    • Axis Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit account with the Axis bank and the minimum tenure is around five years of time. Response is a good one with them and everything was done through online. Net banking services are working in an excellent way and it is really wonderful.
      Was this review helpful? 1
      , kolkata
      Reviewed on Apr 25, 2017
    • HDFC Bank Fixed Deposit
      "My FD"
      0.5 5.0/5 "Blown Away!"
      I had invested in FD with HDFC. The benefits what I get here is huge. I never used to visit the branch . I had got a phone call from them immediately they had sent their representative for the same. He helped me in filling the form and I do have online access and I view all the FD information online itself
      Was this review helpful? 2
      , kolkata
      Reviewed on Apr 20, 2017
    • andhra Bank Fixed Deposit
      "Good one"
      0.5 4.0/5 "Great!"
      Good, I can view all the accounts in one page that is why I had chosen this ANDHRA Bank FD. I have online access too. I can view and change the mat instructions online. I change the principle amount too. I do get a the certificate of interest from them proactively on a yearly basis
      Was this review helpful? 1
      , kurnool
      Reviewed on Apr 20, 2017
    • SBI Fixed Deposit
      "Its Trusted"
      0.5 4.0/5 "Great!"
      I was studying college, I have opened Fixed deposit in SBI, it is located in my college campus. I have submitted pan card, address proof, id proof to them and I have invested the amount of Rs.1,25,000 its for the period of four years, but I am not sure what is the benefit I will get after that maturity period.
      Was this review helpful? 23
      , chandigarh
      Reviewed on Mar 30, 2017
    • Shriram Finance Fixed Deposit
      "Higher returns "
      0.5 5.0/5 "Blown Away!"
      With the help of the online portal I got in touch with shriram ,, I have opened a FD for my daughter's marriage, though I am ready to upload FORM 15C not sure how to upload. I also earn an interest of 7.72 % for a tenure of 36 months, partial liquidation is allowed after 4 months but the interest rate would be low, at the same time if I do a liqudiation after 6 months I will earn good interest. Overall I would say that are trustworthy and safe.
      Was this review helpful? 6
      , chennai
      Reviewed on Mar 25, 2017
    Common Loader Icon

    Personal Loan against Fixed Deposit is Rated as "Excellent!" by 1735 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    Overview

    What would you if you are in need of quick cash but wary of rising bank lending rates? The typical knee jerk reaction would be to liquidate your assets to meet your immediate financial requirements. Think again. Experts suggest you would be better off take a loan against your fixed deposits instead of liquidating your high interest FD.

    Liquidating FD vs taking a loan against FD

    Most lenders will charge premature withdrawal penalties in case of liquidation of a fixed deposit. The penalty charged is usually 0.5 to 1% for the period the deposit is with the bank. In most cases, banks do not charge processing fees for personal loans taken against fixed deposits.

    Standalone personal loan vs personal loan against FD

    Personal loans have higher interest rates since they are unsecured as compared to personal loans taken against fixed deposits, which typically have lower interest rates, since they have the underlying deposit as the collateral. Getting a personal loan against a fixed deposit can be a good move in terms of your financial planning for the following reasons

    • Provides funds during a liquidity crunch for the short-term.
    • Cheaper than personal loan or credit card loan in that your fixed deposit continues to earn interest, while the loan only costs 100-200 bps or just 1-2% above your FD rate. (Government-owned banks usually charge 100-150 bps above the deposit rate while private banks charge 200 bps above the deposit rate)
    • Customers can avail of overdraft facility (withdraw more than the deposit) in many cases. All banks do not offer both loan and overdraft facilities. For instance, while ICICI Bank offers both facilities, ING Vysya Bank offers only the overdraft facility.
    • Many banks usually do not charge any processing charge since there is no risk involved.
    • In most cases, there are no prepayment penalties.
    Terms and conditions
    • Amount
    • Most banks usually offer 90 per cent of the value of your fixed deposit as the loan amount. For example, if you have a fixed deposit of Rs. 1 lakh with a bank for a tenure of two years, the bank would offer 90% of the amount as loan. The bank would lend you more money factoring in the interest accrued on your fixed deposit for two years. The loan can, therefore, be taken for any duration except that it should not exceed the tenure of the deposit.

    • Interest Rate
    • Most banks offer personal loans at an interest rate ranging from 16% to 24%. However, if you take a personal loan taken against a fixed deposit, you typically pay just 1% more than the rate of interest payable on the fixed deposit. For instance, if a bank charges 8% interest on a fixed deposit, the rate of interest payable on the personal loan raised against it would be 9%.

    • Documentation
    • A personal loan against fixed deposit involves simple documentation. You have to produce the following documents as notified by the bank

      • Demand promissory note
      • Deposit receipt
      • Loan documents
      • Pledge/lien letter
      • Overdraft agreement
      • Signed receipt
      • Application form
    • Charges
    • Most banks usually do not charge prepayment penalties for personal loans against fixed deposits. However, some banks do charge a small processing fee. Nevertheless, preferred customers, in some cases, may get half of their fees waived if their bank chooses to do so.

    • Repayment
    • Banks may offer a flexible repayment plan, wherein loan can be paid either in instalments or in a lump sum. Customers can also choose to repay a fixed amount every month. In some cases, banks ask customers to pay interest on a monthly basis. In many cases, customers can settle the loan at the time of the maturity of the fixed deposit.

      The borrowed amount plus interest should not exceed your deposit, failing which, you will have to repay the amount. Similarly, the tenure of the personal loan should not exceed the residual tenure of your fixed deposit.

      Customers who have a long standing relationship with their bank can avail of the overdraft facility which provides more liquidity for the short term. The customer pays interest only for the time he or she availed money from the bank.

      In case of a default, the bank may choose to foreclose the fixed deposit to recover the loan amount.

    Banks offering personal loans against fixed deposits
    • HDFC Bank
    • ICICI Bank
    • ING Vyasa Bank
    • Axis Bank
    • Citibank
    Points to Remember
    • Money should be free from lien or encumbrance
    • Deposit should not be in a minor's name.
    • If the deposit is under the joint name of both husband and wife, all holders of the deposit are liable to repay the loan.
    Financial Prudence

    Although taking a personal loan against your fixed deposit is easier compared to a standalone personal loan, tread with caution and don’t go overboard. If you don’t repay your loan on time, you will lose your fixed deposit (banks may foreclose the fixed deposit to recover the loan amount). Consequently, your CIBIL score will take a beating.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.