Many people have lost their income due to Corona Crisis, due to which they are facing money problem.
If you are also facing money problem, then you can overcome this problem by taking a loan on fixed deposit (FD). There are many banks that are giving loans on FDs at less than 6% interest, which is much less than personal loans. Today we are telling you which bank is giving loan on FD at how much interest.
How much interest will have to be paid?
If you take a loan on FD, then you will have to pay 1-2% more than the interest you get on a fixed deposit. For example, if you are getting 4% interest on your FD, then you can get a loan at 6% interest rate.
How much will be the loan?
You can take a loan up to 90% of the value of FD. Suppose your FD is worth 1.5 lakh rupees, then you can get a loan of 1 lakh 35 thousand rupees.
How will I get a loan?
Many banks including SBI, the country’s largest bank, also provide online facility for this. Apart from this, you can also take a loan by going to the bank. This loan is a secured loan and hence it is easily available.
Know which bank is offering loans at what interest rate here
| Bank | Loan Interest Rate (%) | Maximum loan |
| SBI | FD rate + 1% | Up to 90% of FD |
| Punjab National Bank | FD rate + 1% | Up to 95% of FD |
| Axis Bank | FD rate + 2% | Up to 85% of FD |
| HDFC Bank | FD rate + 2% | Up to 90% of FD |
| Bank of baroda | FD rate + 2% | Up to 90% of FD |
| Indian Bank | FD rate + 2% | Up to 90% of FD |
| ICICI Bank | FD rate + 2-3% | Up to 90% of FD |
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