Speaking of work: If you need money in Corona period, you can also take a loan on FD, it will get money at low interest
The Corona Crisis has cut off many people's incomes, leaving them with money problems. If you are also facing money problem, you can overcome this problem by taking a loan on Fixed Deposit (FD). There are many banks that are offering loans at less than 6% interest on FDs, which is much less than personal loans. Today we are going to tell you how much interest rate any bank is giving loan on FD.
How much interest do I have to pay?
If you take a loan on FD, you will have to pay 1-2% more interest than the interest earned on a fixed deposit. For example, if you are getting 4% interest on your FD, you can get a loan at 6% interest.
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How much loan will you get?
You can take a loan up to 90% of the value of the FD. Suppose your FD is worth Rs 1.5 lakh then you can get a loan of Rs 1 lakh 35 thousand.
How to get a loan?
Many banks, including SBI, the country's largest bank, also offer online facilities. You can also go to a bank to get a loan. This loan is a secured loan, so you can get this loan easily.
Find out at what interest rate the bank is lending
| Bank | Loan interest rate (%) | Maximum loan |
| SBI | FD rate + 1% | Up to 90% of FD |
| Punjab National Bank | FD rate + 1% | Up to 95% of FD |
| Axis Bank | FD rate + 2% | Up to 85% of FD |
| HDFC Bank | FD rate + 2% | Up to 90% of FD |
| Bank of Baroda | FD rate + 2% | Up to 90% of FD |
Indian Bank | FD rate + 2% | Up to 90% of FD |
| ICICI Bank | FD rate + 2-3% | Up to 90% of FD |
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