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(Whether I should avail loan against my bank deposits.  What are rules for availing loan on my bank deposit)


  • In case of emergency and for temporary needs you can always avail loan against the Bank deposits.  Almost all banks are keen and are ready to extend such facilty on demand.
  • Banks usually allow you loan upto 75% of the total deposit PLUS the interest earned till date of sanction of loan.   However, now number of banks have allowed higher percentage of loans which have shorter maturities.
  • Banks usually charge 2% more than the interest payable on the deposits against which the loan is sought
  • If you need money and wants premature cancellation of the FD, and the maturity date is falling within next few weeks, it is usually beneficial to avail loan against the Bank deposit rather than go for pre-mature cancellation. 



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