financial emergency heald any time but do not be panic. people withdraw his fixed deposit before the maturity period, but some of the people are not wat to destroy his FD. Nowadays the lender offers a new scheme called loan against FD in this scheme you can avail a loan without disturbing his FD. You can avail of this service within a day. The process to avail of this loan as fallow.
Eligibility criteria:
before availing any kind of loan or service you should know the eligibility criteria.
- Residents of India
- Family trusts
- Registered Hindu Undivided Family
- An association like a club or society
- A registered company
Application process:
Most of the lender offers to avail of this service online but in some cases, you should visit the bank branch. But some of the lenders provide doorstep service you can also avail of this service.
Documents:
This is also an important point to avail any kind of loan do should complete the documentation process, but is a loan against FD is offer less documentation process.
- Duly filled application form and also signed by the investor
- the agreement signed by the applicant
- FD receipt discharged by the lender
Loan Amount:
you can avail loan on your fixed deposit up to 75% of your principal amount. This is a good amount of your need.
