Loan against FD HDFC Bank

Let us learn more about this facility with features and benefits in this article.

What is Loan Against FD HDFC Bank?

Loan against FD by HDFC Bank is a loan facility provided to the Fixed Deposit accountholders. The customers can raise loans by guaranteeing their fixed deposits as collateral when in need of emergency funds for short-term.

HDFC Bank provides a seamless and fast loan facility with the need for minimum paperwork. When in need of emergency funds for situations like medical treatment or holiday expenses, Loan Against FD HDFC Bank is the best option for you.

Features of HDFC Bank Loan against FD

Let us learn the main features of getting a Loan against FD from HDFC Bank in the following table:

HDFC Bank Loan against FD Interest Rate

The OD Account interest rates of HDFC Bank depend on the tenure of your FD scheme. 

The OD interest rate is as follows:

• Domestic FD Account: 2% above the normal FD interest rates

• NRO Account: 2% above the normal FD interest rates

• NRE Account: 2% above the normal FD interest rates

Eligibility Criteria for HDFC Bank Loan on FD

Here is the list of eligible customers who can get a loan against FD in HDFC Bank:

Eligibility for Domestic Customers:

• Resident Single and Joint Life citizens

• Hindu Undivided Families (HUF)

• Private limited companies

• Public Sector Units (PSUs

Eligibility for NRI Customers:

• NRO Account Fixed Deposit holders

• NRE Account FD holders

• FCNR Account Fixed Deposit holders

Note: The Loan against FD can be availed only if the applicant holds a Zero Balance Savings Account with HDFC Bank.

How to Apply for HDFC Bank Loan against FD

1. For Single Life Account Holders with HDFC Bank

   The Single Life Fixed Deposit account holders can get a Super Saver/ Loan against FD facility of HDFC Bank by applying through Net Banking with the steps mentioned below:

   Step 1: Log in to your account through Net Banking

   Step 2: Go to “Accounts” section and click on “Transact”

   Step 3: Select the “Overdraft against FD” section and fill in the required details to get an Overdraft against FD.

2. For NRI and Domestic Account Holders with HDFC Bank

   NRIs can apply to get a Loan against FD from HDFC Bank by following the steps mentioned below:

   Step 1: Go to the official website link of HDFC Bank

   Step 2: Select the option “Invest” and click on “Deposits” section

   Step 3: Choose the option “Fixed Deposit” and select “Loan against Fixed Deposit”

   Step 4: Click on the button “Apply Now”

   Step 5: Fill in the required details and click on “Submit”.

Advantages of Loan against Fixed Deposit of HDFC Bank

Let us have a look at the major advantages of taking a loan on FD from HDFC Bank in the list below:

• Pay Only for Loan Availed: You are levied interest only for the drawn amount of loan.

• Earn Interest on FD Amount: The remaining amount of your FD account continues to earn interest for you.

• Flexibility in Loan Repayment and Rollover Mode: You can deposit the loan on FD amount as per your suitability before the rollover deposit matures.

• Link FD with Savings/Current Account: The customer can choose to link their FD with either a Savings Account or a Current Account of HDFC Bank.

• Easy Cancellation of HDFC OD Account: The Single Life FD account holders can easily cancel their OD against FD through Net Banking.

Summing It Up

The Loan Against FD HDFC Bank is available only for FDs that are free of lien/ mortgage/ encumbrance. The customer must learn the terms and conditions and analyse their loan repayment capability before applying for a loan against FD. You cannot close the FD account after availing of the overdraft facility. But before taking investment decision in FD., it is suggested to use FD calculator to check out the FD returns.

Bank FD Interest Rates

Bank FD Calculator

NRI-NRE FD Rates

Allahabad Bank FD Rates

Andhara Bank FD Rates

Assam Gramin Vikash Bank FD Rates

AU Small Finance Bank FD Rates

Axis Bank FD Rates

Bajaj Finance FD Rates

Bandhan Bank FD Rates

Bangiya Gramin Vikash Bank FD Rates

Bank of Baroda FD Rates

Bank of Ceylon FD Rates

Bank of Maharashtra FD Rates

Baroda Gujarat Gramin Bank FD Interest Rates

BOI FD Interest Rates

Canara Bank FD Rates

Capital Small Finance Bank FD Rates

Central Bank of India FD Rates

Citi Bank FD Rates

City Union Bank FD Rates

Corporation Bank FD Rates

Dakshin Bihar Gramin Bank FD Rates

DBS Bank FD Rates

Dena Bank FD Rates

Dhanlaxmi Bank FD Rates

Equitas Bank FD Rates

ESAF Small Finance Bank FD Rates

HDFC FD Interest Rates

HSBC FD Rates

ICICI Bank FD Rates

IDBI Bank FD Rates

IDFC Bank FD Rates

Indian Bank FD Rates

Indian Overseas Bank FD Rates

IndusInd Bank FD Rates

Jana Small Finance Bank FD Rates

Karnataka Bank FD Rates

Kerala Bank FD Interest Rates

Kotak FD Rates

Lakshmi Vilas Bank FD Rates

Muthoot Capital FD Rates

Nainital Bank FD Rates

Odisha Gramya Bank FD Rates

Paschim Banga Bank FD Rates

Paytm FD Rates

PNB FD Interest Rates

Prathama UP Gramin Bank FD Rates

RBL Bank FD Rates

Saurashtra Gramin Bank FD Interest Rates

SBI FD Interest Rates

Shriram Finance FD Rates

State Bank of Hyderabad FD Rates

State Bank of Mysore FD Rates

State Bank of Travancore FD Rates

Syndicate Bank FD Rates

Tamil Nadu Grama Bank FD Interest Rates

Telangana Grameena Bank FD Rates

Tripura Gramin Bank FD Interest Rates

UCO Bank FD Rates

ujjivan small finance bank fd rates

Union Bank FD Rates

Uttar Bihar Gramin Bank FD Rates

Uttarakhand Gramin Bank FD Interest Rates

Vijaya Bank FD Rates

Yes Bank FD Rates

Expand

Allahabad Bank FD Calculator

Andhra Bank FD Calculator

AU Bank FD Calculator

Axis Bank FD Calculator

Bajaj Finance FD Calculator

Bandhan Bank FD Calculator

Bank of Baroda FD Calculator

Bank of India FD Calculator

Bank of Maharashtra FD Calculator

Canara Bank FD Calculator

Central Bank FD Calculator

Corporation Bank FD Calculator

Equitas Small Finance Bank FD Calculator

HDFC Bank FD Calculator

ICICI Bank FD Calculator

IDBI Bank FD Calculator

IDFC Bank FD Calculator

Indian Bank FD Calculator

Indian Overseas Bank FD Calculator

IndusInd Bank FD Calculator

Karnataka Bank FD Calculator

Karur Vysya Bank FD Calculator

Kotak Bank FD Calculator

Mahindra Finance FD Calculator

OBC Bank FD Calculator

Odisha Gramya Bank FD Calculator

PNB Bank FD Calculator

SBI FD Calculator

Shriram Finance FD Calculator

Syndicate Bank FD Calculator

Tripura Gramin Bank FD Calculator

UCO Bank FD Calculator

Union Bank FD Calculator

Yes Bank FD Calculator

Expand

HDFC NRE FD Rates

Maybank Malaysia FD Rates

SBI NRI FD Rates

Axis NRI FD Rates

Maybank Singapore FD Rates

Yes Bank NRI FD Rates

FAQs