The interest rate is attractive and obtaining it requires minimal paperwork Loan against FD (fixed deposit) is a secured loan where you can pledge your FDs as security. The loan amount is usually up to 90-95 per cent of the deposit amount. Both individual and joint account holders can get a loan against FD.
Investors in five-year tax-saving FDs cannot apply for it. Also, you cannot get a loan against an FD that is in the name of a minor. Lenders do not check the credit score of the borrower when he applies for a loan against FD, which means even those ...
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