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Loan Against Fixed Deposit
Get a Loan Against Fixed Deposit from Axis Bank for your cash requirements without having to liquidate your fixed deposits. Avail upto 85% of the value of your fixed deposit without losing out on the interest and paying a penalty for breaking the fixed deposit. Before you apply for a Loan Against Fixed Deposit, make sure to read the features and benefits below.
Features & Benefits
Get access to liquid funds
Avail up to 85% of the value of your Fixed Deposit (only Axis Bank Fixed Deposits).
Minimum limit: ₹25,000
Get emergency funds
In case of an emergency, instead of breaking your Fixed Deposit, you can take a loan against it instead
Get competitive rates
Now gain access to liquid funds at competitive rates
Pay interest only on utilisation
You will be charged interest only on the actual amount utilised and for the tenure of utilization. No EMI or post-dated cheques required
Avail overdraft facility
Get an overdraft account with cheque book, Debit or ATM card and internet banking facilities – available to you upto the remaining tenor of the FD on renewable basis.
Read MoreForget prepayment charges
No prepayment charges
Payment can be done in overdraft account from valid banking channels and instruments.
Know how much you can borrow
Minimum loan amount is ₹25,000
Applications for loan
In the loan application form, the bank shall provide comprehensive information including information about fees and charges, if any, payable for processing and amount
Read MoreProcessing
The bank shall provide acknowledgement for receipt of all loan applications indicating the time frame within which the application will be disposed of.
Read MorePost disbursement supervision
The post disbursement supervision, such as submission of periodical reports and periodic inspection, will be stipulated at the time of issue of the sanction letter.
Read MoreGrievance Redressal
Though the sanction of the loans will be at the sole discretion of the bank, borrowers will have an opportunity to appeal against the decision of the bank's functionaries.
Read More
Forget Prepayment charges
No prepayment charges
Payment can be done in overdraft account from valid banking channels and instruments.
Terms & Conditions
Bank reserves the right to reject any application / renewal without assigning reasons thereof. It shall be the sole right of the Bank to consider the proposal on case to case basis after taking into consideration, the credentials / credit worthiness of each of the customers.
The overdraft facility shall be renewed only after all the required documentation and lien marking formalities are complete.
The applicant will undertake to inform the Bank as and when there is a change in address or employment.
* The Terms & Conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank's discretion.
Processing
The Bank shall provide acknowledgement for receipt of all loan applications indicating the time frame within which the application will be disposed of.
The Bank shall verify the loan application and if additional details / documents are required, these will be sought from the applicant.
For all categories of loans and irrespective of any threshold limits, the Bank will be expected to process the application without delay. In case the application is turned down, the Bank will convey in writing to the applicant the reasons for rejection within one month.
Disbursement of loans including changes in Terms & Conditions
The disbursement will be done immediately on compliance of all the Terms & Conditions of the sanction by the borrower and the branches need not refer to the sanctioning authority for disbursement.
Any changes in the terms and conditions of the sanction such as interest and charges will be notified to the borrower before effecting the changes.
Any changes in interest rate and charges will be effected only prospectively after giving due notice to the borrower.
Post disbursement supervision
The post disbursement supervision, such as submission of periodical reports and periodic inspection, will be stipulated at the time of issue of the sanction letter. The sanction letter would also mention whether the Bank or the borrower will bear the cost of inspection.
The Bank will issue notices to the borrowers in advance in case the Bank decides to recall the advance / accelerate the payment / accelerate the performance under the loan agreement. Or seek additional securities.
The Bank shall release all securities on receiving payment of loan. However, the Bank may decide to exercise the right to set off any legitimate right or lien for any other claim against borrower. In case the Bank decides to retain the security, the borrower will be notified about the remaining claims and the documents under which the Bank is entitled to retain the security till the relevant claim is paid / settled.
Others
The Bank will not interference in the affairs of the borrowers except where provided for in the Terms & Conditions of the loan sanction documents, such as periodic inspection, scrutiny of books of accounts, verification of stocks and book debts, and scrutiny of QIS statements.
In case any information not disclosed earlier by the borrower has come to the notice of the Bank, the Bank will have the right to elicit the necessary information from the borrower and initiate action to protect its interest.
While, the Bank may participate in credit-linked schemes framed for weaker sections of the society, the Bank shall not discriminate on grounds of sex, caste and religion in the matter of lending.
In the matter of recovery of loans, the Bank shall not resort to undue harassment such as persistently bothering the borrowers at odd hours and use of muscle power.
In the case of receipt of request for transfer of borrowal account, either from the borrower or from other banks / FIs which propose to take over the loan, the Banks' consent or objection, if any, shall be conveyed within 21 days from the date of receipt of request.
Grievance Redressal
Though the sanction of the loans will be at the sole discretion of the Bank, borrowers will have an opportunity to appeal against the decision of the Bank's functionaries. Any such grievance received from the borrower will be heard and disposed of by the next higher authority. For this purpose the following review structure is available to the borrower.
Grievance against Decision of and Reviewing Authority:
Branch Head - Zonal Head
VP/AVP - Zonal Head
Zonal Head - President (Credit) for corporate advances. President (Merchant Banking) for capital-market related advances. Senior Vice President (Retail Banking) for retail advances.
Corporate Credit and Retail Loans (under Retail Banking) - Executive Director.
All Others - Chairman and CEO
Avail of Overdraft facility
Get an overdraft account with cheque book, Debit or ATM card and internet banking facilities – available to you upto the remaining tenor of the FD on renewable basis. Overdraft facility is granted to you for minimum of 3 months
Applications for loan
In the loan application form, the Bank shall provide comprehensive information including information about fees and charges, if any, payable for processing and amount of such fees refundable in case of non-acceptance of application, prepayment options and other matter which affects the interest of the borrowers, of all categories of loans, irrespective of the amount of loan sought by them.
General Terms & Conditions
Documentation for Loan Against Fixed Deposit
Interest Rates & Charges
Interest rates & charges
Interest rates and charges for Loan Against Fixed Deposit loan against fixed deposit
interest rate 2% above term deposit rate
| Product | Rate of interest disbursed jan'25-mar'25 | Mean rate | ||
|---|---|---|---|---|
| Min ROI | Max ROI | |||
| Loan against fixed deposit | 5.00% | 10.75% | 8.95% | |
Note:
It includes various categories like fixed rate/floating rate as applicable and is based on factors such as loan
amount, customer relationships, etc.
Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.
Penalty for early Closure
Nil
| Charges | ||
|---|---|---|
| Sr. No. | Type | |
| 1 | Processing fee charges : Nil | |
| 2 | Penal interest rate : NA | |
| 3 | NEFT : As applicable at Bank Level* | |
| 4 | RTGS : As applicable at bank Level* | |
| 5 | Charges for other service are levied as applicable to normal current account. For details please visit bank website www.axisbank.com | |
| 6 | Cooling off/look-up period is the period during which borrower shall not be charged any penalty on prepayment of the loan. However, the proportionate APR will be charged. | 3 Working days** |
Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)
*In case you need to cancel the loan within the cooling period. Please follow the below mentioned process. Visit Axis support page on the Axis bank's website, click on connect via email.
*Account number, Name on the account, Registered mobile number
**Working day shall mean all days except Sundays, 2nd & 4th Saturdays of the month & all state holidays applicable as per Maharashtra (either planned or declared as followed by Axis Bank).
**No penalty is charged if the overdraft account is closed within the cooling off/ look up period (3 working days). processing fees, stamp duty, pledge charges, other statutory charges (if applicable) and GST would not be waived/refunded in case of account closure within cooling off/look up period. However, if the customer utilizes the overdraft facility, then interest till the date of closure will be charged in case of account closure within cooling off/ look up period.
Already Applied? Track your application here
It's important to check on your loan application status if you have applied for a loan.
Track NowFrequently Asked Questions
Customer has to pay the self-transfer of the funds from the NRE/NRO account via IMPS , NEFT, RTGS and Cheque.
Customer has to pay the self-transfer of the funds from the CASA account via IMPS , NEFT, RTGS and Cheque.
APR Calculator
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and loan origination charges.
6K
15Cr
0
50L
APR
8.00%
Terms & Conditions
Loan appraisal and Terms & Conditions
The sanctioning authority will be expected to ensure proper assessment of the credit application as per the extant instructions and credit policy of the bank.
Read MoreDisbursement of loans including changes in Terms & Conditions
The disbursement will be done immediately on compliance of all the Terms & Conditions of the sanction by the borrower and the branches need not refer to the sanctioning
Read MoreGeneral Terms & Conditions
Axis Bank Ltd. reserves the right to retain the photographs and documents submitted with this application and will not return the same to the applicant.
Read MoreRelated Products
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