6 reasons why you should take a Bajaj Finserv Loan Against FD
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6 reasons why you should take a Bajaj Finserv Loan Against FD

  • Highlights

  • Bajaj Finserv Loan Against FD offers funds in 24 hours.

  • Get a loan up to 75% of FD value

  • Pay a nominal interest on the loan whereas your FD continues to give returns

  • No premature withdrawal or hidden charges

Having access to liquid funds is of tremendous importance when you face an emergency and need to arrange immediate cash. However, when your savings don’t fit the bill and when your investments are locked in for the long-term, your FD investment can come to your aid. You can pledge your fixed deposit as security and avail an affordable loan against it. The Bajaj Finserv Loan Against FD offers you a range of advantages- it gives you access to short-term funds quickly and easily, without having to break your FD. Here your fixed deposit continues to earn interest, thus saving you a substantial portion of the interest paid on your loan. So, you can access capital without the need to sell your FD investment at a discounted price.

Enjoy easy application and quick processing

To apply for a Bajaj Finserv Loan Against FD, you first need to check if you meet the eligibility criteria. You can then fill-in a quick online application and submit it. Once your application gets processed, you can expect to receive the money in just 24 hours. This feature helps you take care of any urgent cash needs.

Get access to a substantial loan amount

You can avail this loan against a cumulative FD or a non-cumulative FD. Bajaj Finserv offers you up to 75% of the amount of cumulative FD as the loan and up to 60% in the case of non-cumulative FD. For instance, you have a cumulative FD of Rs.5,00,000 then you can get a loan against FD for Rs.3,75,000.

Loan Against Fixed Deposit

Ease your repayment with a nominal interest rate

The rate of interest charged on this loan is lower as compared to the interest rate on other loans like personal loans. Although the interest rate is 2% higher than the rate at which you have opened a fixed deposit account, but your FD continues to earn interest and you get the remainder of the tenor to repay it at your convenience.

Avail the loan with minimal paperwork

As you have an account already opened with your lender at the time of starting your FD investment, your lender has access all your documents and information. So, you only need to submit minimal documents at the time of availing a loan against FD. This makes the application process quick, easy and hassle-free. Documents that need to be submitted along with application are your FD receipt, ECS mandate and a cancelled cheque.

Make the most of repayment flexibility

You do not have to hurry to repay your loan as the repayment tenor is up to the tenor remaining for your FD. The only thing that you need to keep in mind is that you can avail this loan any time after 90 days since starting your investment.

Rest assured with no hidden charges

To make the loan more affordable for you and to bring more transparency, there are no hidden charges involved in a Loan against FD from Bajaj Finserv. You are free to foreclose your loan or part-prepay it during the entire tenor and no charges or penalty will be levied on you.

Now that you know how easily you can benefit from taking a loan against an FD, proceed to apply for one at your convenience. Stay prepared for financial emergencies by checking your pre-approved loan offer from Bajaj Finserv to speed up and simplify your application.

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