Loan Against SBI FD: Check How to Avail Loan, Eligibility, Interest Rates and Other details

New Delhi: Fixed Deposits (FD) or Time Deposits (TD) not only give you an assured return but they can also be used when customers face liquidity crunch or other financial emergencies.

Can I borrow against my fixed deposit?

If you have an FD, you can borrow money from your FD investment without having to wait for your fixed deposit to mature. You can use your FD as collateral to secure the loan amount. This means, you can take a loan against your fixed deposit. Such loans, i.e, loan against FDs can be used as security instead of the CIBIL score being examined.

Can I take loan against my SBI FD?

SBI Customers holding TDR/STDR/e-TDR/e-STDR with SBI in Single name only (No Joint Account Holders) can avail the facility online. Joint Account Holders can avail this facility at the Branches. At Branch level the loan is also sanctioned against the security of RD/e-RD/NRE/NRO/RFC and FCNR(B) Deposits.

How much loan can I get from SBI on FD?

At the SBI Branch level the customer can avail 90% of his/her underlying security value as Demand Loan/ Overdraft facility.

What is overdraft interest rate against FD in SBI?

SBI customers have to pay 1 percent interest rate above the relative time deposit rate.

What is the maximum Overdraft Limit on SBI Fixed Deposits?

The maximum Overdraft limit which can be availed online against your SBI Fixed Deposits is Rs 5 Crore. However, here is no specific loan limit for advances at the Branches.