Loan Against Fixed Deposit Eligibility and Documents

Read on to know the criteria required to apply for our loan against fixed deposit.

Eligibility criteria and documents required

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

  • 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 fixed deposit

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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.

Frequently asked questions

What are the eligibility criteria to apply for a loan against fixed deposit?

The eligibility criteria for loan against fixed deposit with Bajaj Finance are:

  • Resident Individuals (except foreign citizens, persons of Indian origin and NRI) over 18 years
  • Hindu Undivided Family (HUF)
  • Sole Proprietorship
  • Partnership Firms
  • Companies including group companies
  • Club, Association and Society
  • Family Trust (except charitable trusts)
How to apply for a loan against fixed deposit?

To apply for loan against fixed deposit, click on the ‘Apply' button on the page. You will be redirected to our form, where you will have to fill your personal details and the investment amount of your fixed deposit.

Once all your details have been verified through an OTP, sent on your phone, our representative will contact you for further processing of your application.

What are the minimum and maximum amounts that can be borrowed through a loan against fixed deposit?

Through the loan against fixed deposit by Bajaj Finance, you can get a preassigned loan of up to Rs. 4 Lakh per deposit.

What documents are required to apply for a loan against fixed deposit?

The documents required to apply for loan against fixed deposit with Bajaj Finance are:

  1. One Recent photograph
  2. PAN or Form 60 if PAN is not allotted
  3. Certified Copy of one of the Officially Valid Documents (OVDs).
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