Overdraft against Deposit

Overdraft against Deposit

Overdraft against Deposit

Overdraft against Fixed Deposits is an overdraft facility against your fixed deposits, specially designed to offer you the liquidity without compromising on the returns on your fixed deposits.

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Fixed Deposit

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Overview

With the overdraft against fixed deposit facility, your fixed deposits continue to remain in your name and earn interest for you, while you avail finance against them.

Apart from your own fixed deposits, you can avail finance against fixed deposits held in the name of any of your family members, relatives or friends.

Benefits:
  • Most convenient and immediate line of credit against your fixed deposits
  • Interest charged only on utilized amount
  • Lower Interest rates
Features:
  • Minimum Overdraft amount: Rs. 25,000
  • Maximum Overdraft amount: Upto 95% of Fixed Deposit
  • Tenor: 7 days to 365 days, linked to Fixed Deposit
  • Rate: 2% above the FD rate

Terms and conditions apply.

Important Links

# Customers outside India need to dial +91 22 6601 6601. Customers in Mumbai can also call at 6601 6601. Call charges apply.

Schedule of Charges

Fees and Charges Overdraft against Fixed Deposits

Unauthorized usage of overdraft / overdrawing of facility limit

 

24% per annum on overdrawn amount

 

Service Tax Payable on fees and charges

 

As applicable

 

Stamp Duty Charges

 

Depending on local regulations

 

Important Links

# Customers outside India need to dial +91 22 6601 6601. Customers in Mumbai can also call at 6601 6601. Call charges apply.