Loan Against FD Calculator

A loan against fixed deposit (FD) is a secured loan where you can borrow money against your fixed deposit without breaking it. This allows you to access funds while your FD continues to earn interest. The loan amount is typically 70-90% of your FD value, depending on the bank and FD terms.

Key Features:

• No need to break your FD - it continues earning interest
• Lower interest rates compared to personal loans (usually 1-3% above FD rate)
• Quick approval and disbursement process
• Flexible repayment options with EMI
• Available from major banks like SBI, HDFC, ICICI, PNB, BOB, Federal Bank, Axis Bank, BOI, Kotak Mahindra Bank, and Indian Bank

Loan Against FD vs OD Against FD:

• Loan Against FD: Fixed EMI-based repayment schedule with a specific tenure
• OD Against FD: Overdraft facility where you can withdraw and repay as needed, with interest charged only on the amount utilized

Eligibility: You must have an active fixed deposit with the bank. The loan amount depends on the FD value and the bank's loan-to-value (LTV) ratio, typically ranging from 70% to 90%.

Interest Rates: Interest rates for loans against FD are usually 1-3% above the FD interest rate. Rates vary by bank and are generally lower than personal loan rates. Use this calculator to compare rates from different banks and plan your loan repayment.

Repayment: You can choose a repayment tenure from 12 to 120 months. The EMI is calculated based on the loan amount, interest rate, and tenure. Your FD continues to earn interest during the loan period, which can help offset some of the loan interest costs.

This calculator helps you estimate your monthly EMI, total interest payable, and view the complete repayment schedule. You can compare different scenarios by adjusting the loan amount, interest rate, and tenure to find the best option for your needs.