Get details on SBI Bank Loan Against Fixed Deposit ✔ Interest Rates ✔ Processing Fee ✔ Loan Amount ✔ Tenure ✔ Margin ✔ Features ✔ Benefits.

Single account holder can avail overdraft TDR and STDR online through internet banking, avail loan upto 90% of deposit. Loan amount for online overdraft against FD is Rs 25000 to Rs 5 Crore.

SBI Loan Against Fixed Deposit Details

Fee & Charges of SBI Loan Against Fixed Deposit

Interest Rate 1% above the relative time deposit rate.
Amount of Loan Minimum Rs 25000 to Maximum Rs 5 Crore.
Processing fee Nil.
Repayment Period Upto 5 years.
Margin Avail loan up to 90% of your Time Deposit value.
Type of loan Demand Loan & Overdraft.

Eligibility to Avail SBI Loan Against Fixed Deposit

Customers (Single/ Joint Account Holder) holding SBI’s TDR/STDR / RD / including NRE/NRO/RFC and FCNR(B) Deposit can avail this loan. Single Account Holder can also avail Overdraft against TDR and STDR online through Internet Banking platform.

SBI Loan Against Fixed Deposit Advantage

  1. Loan up to 90% of the value of term deposit.
  2. Both Demand Loan and Overdraft Facility as per your need.
  3. Low interest rates.
  4. Interest rate on a daily reducing balance.
  5. Zero processing charges.
  6. No prepayment penalties.

Important Points About Loan Against Fixed Deposit From SBI

  1. The tenor cannot exceed 5 years.
  2. You cannot avail loan/overdraft facility against tax-saving fixed deposit (with a lock-in of 5 years).
  3. Banks provide loans only against their fixed deposits.
  4. SBI minimum amount 25,000 has an upper cap at Rs 5 crore.
  5. Suitable repayment schedule will be fixed depending upon the repayment capacity of the borrower. Maximum repayment period upto 5 years against STDR/e-STDR and upto 3 years against TDR/e-TDR respectively for Overdraft availed online

FAQs

How much overdraft limit can be availed – The customer will be able to avail 90% of his e-STDR / STDR value and 75% of his e-TDR / TDR as Overdraft facility on the Internet banking platform. At Branch level the customer can avail 90% of his underlying security value as Demand Loan/ Overdraft facility.

Minimum and maximum overdraft limit – The minimum loan amount for availing overdraft facility is Rs 25,000 and  maximum overdraft limit can be availed against your Fixed Deposits Rs 5 Crore.

Overdraft be availed in joint name – No, currently only Customer holding TDR/STDR/e-TDR/e-STDR with SBI in Single name only can avail the facility online. Joint Account Holders have to visit SBI Branches for availing facility.

Repayment period – The maximum repayment period overdraft against e-STDR / STDR is 5 years, maximum repayment period overdraft against e-TDR / TDR is 3 years (residual period which is less, subject to minimum of 6 months).

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SBI Loan Against Fixed Deposit Dec 2018

2 thoughts on “SBI Loan Against Fixed Deposit Dec 2018

  • July 23, 2018 at 4:42 pm
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    Please contact as I am in need of loan from SBI against my Fixed Depositon urgent basis

    Reply
  • September 13, 2018 at 11:26 pm
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    Sir I am AJAY KUMAR SAHOO sbi bank I am creat ib fixed deposits so against demand loan.. Which rate of interest?

    Reply

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