Loan Against Fixed Deposit (FD)
Please Note: Existing customers of Bajaj, who have booked an FD with us, can login to the customer portal – My Account to get instant loan against FD.
Instead of prematurely withdrawing your Fixed Deposit, you can avail of a Loan Against Fixed Deposit from Bajaj Finance. If you have a non-cumulative fixed deposit, you can avail of up to 60% of the value of your FD as a loan. This amount is higher, at 75% if you hold a cumulative FD.
Features and benefits of our loan against fixed deposit
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All you need to know about our loan against fixed deposit
Watch this video to know more about the key features of our loan against fixed deposit.
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Loan of up to 75% of deposit value
Get loan against your fixed deposit up to 75% of deposit value in case of cumulative, and up to 60% of deposit value in case of non-cumulative. Minimum loan value of Rs. 3000.
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No need to pay any EMI
After availing the loan, the borrower need not pay any EMI. The loan amount, and loan against FD interest rate, can be paid any time before the maturity date. If the amount is not paid by then, it will be adjusted from the maturity proceeds of the FD. NACH is not required.
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Zero foreclosure charges
No foreclosure charges applicable. You can visit any BFL branch for foreclosure of your loan.
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LAFD at interest rate of 2% over FD rate
LAFD at interest rate of 2% over FD rate
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Flexible tenure option
Get loan of minimum 1 month. The loan is available for a flexible tenure of 1 month to the tenure of your deposit.
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Dedicated customer portal (My Account)
Download your loan statement and manage your loan online with our customer portal – My Account.
Offline loan through branches
You can visit the Bajaj Finance Limited branches and get loan of more than Rs. 4 Lakh per deposit.
Pre-approved offers
We have pre-approved offers for our existing and new customers. To check, all we need is your mobile number.
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Check your pre-approved offer
You might not require a loan at this time, or you might not have a pre-approved offer. There is still a vast selection of products available, which you can choose from. Loan is at sole discretion of Bajaj Finance and fulfillment of criteria as prescribed by Bajaj Finance Ltd:
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Two most crucial factors for you are your credit health and CIBIL score. Get our Credit Health Report to know your current financial health.
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Set up an SIP for as little as Rs. 100 per month
Select from over 1000 mutual funds from 40+ mutual fund companies, like Aditya Birla, SBI, HDFC, ICICI Prudential, and more.
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Who can Apply for a Loan against FD?
Loan against fixed deposit can be availed after completion of 3 months from the date of deposit with Bajaj Finance. The applicant must fall into one of the following types. No documents are required for applying online LAFD.
Eligibility criteria for loan against FD
- Resident individuals (except foreign citizens, persons of Indian origin and NRI) over 18 years
- Hindu undivided family (HUF)
- Sole proprietorship
- Partnership firms
LAFD cannot be availed for FD standing in the name of minor, FD where attachment/garnishee notice is received, and FD where lien is marked for other loans.
How to apply for a loan against FD – Watch the video tutorial
00:38
How to apply for a loan against fixed deposit
Watch this video to learn how you can apply for a loan against fixed deposit with Bajaj Finance Limited
Step-by-step guide to apply for loan against fixed deposit
- Step 1: Click on ‘Apply’ to initiate your application.
- Step 2: Enter your mobile number to Sign in and click ‘GET OTP’.
- Step 3: Enter the OTP sent to your mobile number. On successful verification, you will be redirected to our customer service portal - My Account.
- Step 4: Under “My Relations”, click on “View Details” below the deposit against which you wish to apply for a loan
- Step 5: Click on “Get a loan against FD” under “Quick Actions”
- Step 6: Enter the amount of loan you wish to avail
- Step 7: Click on “Generate OTP”
- Step 8: Enter the OTP sent to your mobile number and click “Submit”
Additionally, customer can visit our FD branches and apply LAFD Once your application form is submitted, our representative will get in touch with your further proceedings. The final loan amount shall be calculated basis your investment amount in the fixed deposit.
Applicable fees and charges
The following charge is applicable on loan against fixed deposit:
Type of fee |
Charges applicable |
Annual maintenance charges |
For term loan - Not applicable For pure flexi - Up to 0.295% (Inclusive of applicable taxes) of the Total Withdrawable Amount (as per the repayment schedule) on the date of levy of such charges |
Frequently asked questions
Customers can use their fixed deposit as security for a loan against their FD (Fixed Deposit), which is a sort of secured loan. The amount of the FD deposit determines the loan's amount. This may equal as much as 75% of the deposit sum.
All customers who have completed 3 months from the date of deposit, are eligible for loan against fixed deposit with Bajaj Finance.
When a customer requests a loan against a fixed deposit, Bajaj Finance holds the FD as collateral. The customer is charged an interest which is 2% over FD rate.
You are not required to pay any EMI during the tenure of the loan. The loan amount along with the interest is adjusted from the maturity amount of the fixed deposit.
You enjoy the following perks and benefits:
- Low interest rates
- No processing fees
- No need to break your investment or go for a premature withdrawal
- No loss of interest earned on your FD
- Quick loan disbursement
- Minimal paperwork and faster approvals
- No foreclosure charges
The maximum loan amount you can avail is as follows:
- For a cumulative Fixed Deposit (FD), you can get a loan of up to 75% of your FD's deposit value
- For a non-cumulative Fixed Deposit (FD), you can get a loan of up to 60% of your FD's deposit value.
The repayment tenure for a loan against FD varies among banks and financial institutions; but is usually short-term, ranging from a few months to a few years. The exact duration depends on the lender's policies and your agreement with them.
Yes, it is possible to close your fixed deposit (FD) before the loan tenure ends. In such a scenario, the outstanding loan dues will be subtracted from the prematurity amount, and the remaining balance will be paid to the depositor.
No, minors cannot avail a loan against fixed deposits. The minimum age requirement for availing a loan against fixed deposit with Bajaj Finance is 18 years.
In instances where you fail to pay the EMIs, Bajaj will use the amount in your FD to adjust the payment against the loan availed.
Yes, senior citizens can apply for a loan against their fixed deposit (FD) with Bajaj Finance, provided they are resident individuals. The FD must have completed a three-month lock-in period before availing the loan.
Bajaj Finance charges an annual maintenance fee for a loan against FD. For a pure flexi loan, the fee is up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount, as per the repayment schedule on the date of levy.
