How to apply for a loan against FD
Apply for a loan against fixed deposit
If you've invested in our fixed deposit, you can use it as collateral and can apply for a loan against it. Visit our service portal and follow these simple steps.
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A step-by-step guide to applying for a loan against fixed deposit
- Click on the ‘Sign-in’ button on this page.
- Enter your registered mobile number and submit the OTP to sign-in.
- Verify your details with your date of birth and proceed.
- Tap on 'Service'.
- Choose your FD from 'Relations' section and then click on 'Get a loan against FD'.
- Enter the necessary details and check your registered bank account.
- Verify with the OTP and proceed with the loan agreement.
Alternatively, you can also click on ‘Apply for an LAFD’ below. You’ll be asked to sign-in. Then, select your FD from ‘Relations’, and click on ‘Get a loan against FD’.
Please note that your registered bank account for loan disbursal will be the same as your FD maturity bank account.
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Check your LAFD details
Sign-in to our service portal to view your loan against fixed deposit details.
Frequently asked questions
A loan against fixed deposit (LAFD) is a kind of secured loan where you can pledge your fixed deposit as security and get a loan in return. The loan amount then gets credited to your registered bank account.
The interest rate for Bajaj Finance Loan Against Fixed Deposit (LAFD) is 2% higher than your fixed deposit rate of interest (ROI).
For example, if you have an FD of Rs. 1 lakh for 12 months at an ROI of 7% p.a., then the ROI for a loan against fixed deposit will be 9% p.a..
However, the tenure for your loan will be the remaining period till maturity of your fixed deposit.
The maximum loan amount you can get against your fixed deposit is as follows:
- Loan of up to 75% of your fixed deposit amount for a cumulative fixed deposit
- Loan of up to 60% of your fixed deposit amount for a non-cumulative fixed deposit
The loan amount against fixed deposit will be credited to your registered bank account in 1 business day from the date of receiving request.