Many banks in India offer loan against fixed deposit accounts. This helps you fulfill your financial requirements by providing funds up 90% of the value of your fixed deposit. Loan against fixed deposit is granted as demand loans or overdraft against deposits. Many top ranking private and public sector banks in India such as SBI, Axis Bank, ICICI Bank and HDFC Bank etc. offer loan against FDs.
First, you need to fill a loan application form by putting all the required information. Along with the loan application form, you need to attach your fixed deposit receipt received from the bank. Upon receiving these documents, the bank will grant a loan against your fixed deposit.