Loan Against Fixed Deposit Calculator

A loan against fixed deposit (FD) is a secured loan facility 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. This type of loan is available from major Indian banks including SBI, HDFC, Indian Bank, and Axis Bank.

Personal Loan Against Fixed Deposit: Personal loans against FD are ideal for meeting immediate financial needs such as medical emergencies, education expenses, or other personal requirements. These loans typically have interest rates ranging from 9.5% to 9.75% per annum, which is lower than regular personal loans. The loan tenure can range from 12 to 120 months, and the EMI is calculated based on the loan amount, interest rate, and tenure.

Home Loan Against Fixed Deposit: Home loans against FD are designed for purchasing or constructing a residential property. These loans generally have more favorable interest rates, typically ranging from 8.5% to 8.75% per annum. When applying for a home loan against FD, you can also consider the property value and down payment amount. The loan amount will be the minimum of the maximum loan against FD and the property value minus down payment.

Key Features:

• No need to break your FD - it continues earning interest throughout the loan period
• Lower interest rates compared to unsecured personal loans (usually 1-3% above FD rate)
• Quick approval and disbursement process, often within 24-48 hours
• Flexible repayment options with EMI-based schedules
• Available from major banks like SBI, HDFC, Indian Bank, and Axis Bank
• Loan-to-value ratio typically ranges from 85% to 90% depending on the bank

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. For SBI and HDFC, the LTV ratio is typically 90%, while for Indian Bank and Axis Bank, it ranges from 85% to 90%. The interest rates vary by bank and loan type, with home loans generally offering lower rates than personal loans.

Interest Rates: Interest rates for loans against FD are usually 1-3% above the FD interest rate. Rates vary by bank and loan type. SBI and HDFC typically offer rates around 9.5-9.75% for personal loans and 8.5-8.75% for home loans. Indian Bank and Axis Bank have similar rate structures. Use this calculator to compare rates from different banks and plan your loan repayment effectively.

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 using the standard amortization formula. Your FD continues to earn interest during the loan period, which can help offset some of the loan interest costs. The payment schedule shows the breakdown of principal and interest for each month, helping you understand how your loan balance decreases over time.

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. Whether you're looking for a personal loan or a home loan against your fixed deposit, this tool provides accurate calculations for SBI, HDFC, Indian Bank, and Axis Bank.