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.
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 90% of Fixed Deposit
- Tenor: 7 days to 365 days, linked to Fixed Deposit
- Rate: 2% above the FD rate, if the FD is in your name
- 3% above the FD rate, in case of a third party FD
Terms and conditions apply.
Apply Now
- Click here to apply online
- SMS OD to 561615
- Call 1860 266 6601 #
# 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 |
|---|---|
|
Administration fees |
Rs. 500 |
|
Unauthorized usage of overdraft / overdrawing of facility limit |
24% per annum on overdrawn amount |
|
Duplicate statement issuance charge |
Rs. 200 |
|
Service Tax Payable on fees and charges |
As applicable |
|
Stamp Duty Charges |
Depending on local regulations |
