Loans against Fixed Deposits
Features & Benefits
Need loans against your fixed deposits? Federal Bank has an easy option for you. Federal Bank provides you with loan against your deposits with the bank to meet your urgent and unforeseen personal expenses.
The interest rate applicable to the AAD/Easy Cash facility shall be fixed in accordance with the terms prevailing on the date of sanction and shall continue to apply irrespective of any premature closure of the underlying deposit, reduction in the interest payable thereon, or imposition of any premature-closure penalty. Upon renewal of the facility, the interest rate shall be fixed afresh in accordance with the rules then in force for the renewed term.
How to apply ?
How to avail the loan?
- To avail the loan, please visit any of our branches.
- You can also apply for loan agaist deposits through a missed call, SMS or BYOM platform
Loan Against Deposit via BYOM Platform
Click here to apply
Loan Against Deposit via Missed Call
Loan Against Deposit for Resident Individual Customer is now enabled through Missed Call. The customer will have the option to avail the loan by just making a Missed call. Customers can avail the AAD without any paperwork & instantly, without visiting the branch.
Procedure to open loan against deposit via missed call
- Step 1 – Give a missed call to 8880144225 from the Registered Mobile Number of customer.
- Step 2 –Customer will receive an acknowledgement with a link over SMS. On clicking the link, customers will be taken to the BYOM portal.
- Step 3 – Authenticate using mobile number and OTP. Loan offer details are displayed. Customer may review and submit the request. Loan is availed & amount will be disbursed to the operative account of the customer.
Terms and Conditions for availing loan against deposit via missed call
- Should be a Resident customer.
- Minimum Deposit amount should be Rs 5000.
- Minimum tenure left for deposit to get matured should be more than one day.
- Deposits should be in the sole name of the applicant. Deposits in joint names/minor names are not eligible.
- Deposits maintained in Foreign Currency (FCNR Deposits) are not eligible.
- Deposits in the name of third parties and companies are not eligible.
- Deposits opened on the same day of availing the loan are not eligible.
- Deposits which are already linked as security to other loans are not eligible.
- Tax saving deposits are not eligible.
Loan Against Deposit via SMS
Loan Against Deposit for Resident Individual Customer is now enabled through SMS. The customer will have the option to avail the loan by just sending an SMS. Customers can avail the AAD without any paperwork & instantly, without visiting the branch.
Procedure to open loan against deposit via SMS
- Step 1 – Send SMS in the format INSTANT LAD to 8546995577 from the Registered Mobile Number of customer.
- Step 2 –Customer will receive an acknowledgement with a link over SMS. On clicking the link, customers will be taken to the BYOM portal.
- Step 3 – Authenticate using mobile number and OTP. Loan offer details are displayed. Customer may review and submit the request. Loan is availed & amount will be disbursed to the operative account of the customer.
Terms and Conditions for availing loan against deposit via SMS
- Should be a Resident customer.
- Minimum Deposit amount should be Rs 5000.
- Minimum tenure left for deposit to get matured should be more than one day.
- Deposits should be in the sole name of the applicant. Deposits in joint names/minor names are not eligible.
- Deposits maintained in Foreign Currency (FCNR Deposits) are not eligible.
- Deposits in the name of third parties and companies are not eligible.
- Deposits opened on the same day of availing the loan are not eligible.
- Deposits which are already linked as security to other loans are not eligible.
- Tax saving deposits are not eligible.
Other Loans
Hassle free personal loans for salaried individuals with features such as Maximum Loan amount of Rs.25 Lakh, Maximum Tenure of 48 Months, Attractive rate of interest and much more
Federal Bank offers ‘Loan against Sovereign Gold Bond’ which can be used to meet your personal needs or any other lawful needs. Pledge of Sovereign Gold Bond in both demat and physical form are accepted as security. This facility is available at all our branches.
When urgent expenses knock your door, meet them with instant funds. Whatever be your need, get the money you need without hassles.
Federal Bank provides you with loan against your deposits with the bank to meet your urgent and unforeseen personal expenses.
Loan Against Demat Shares is a product which offers way of raising funds when in need without liquidating the accumulated shares. This loan offers an opportunity to monetise your investments to raise capital for your personal /business financing needs. You don't have to provide any additional security or collateral except the securities you are pledging!
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