Get details on SBI Bank Loan Against Fixed Deposit ✔ Interest Rates ✔ Processing Fee ✔ Loan Amount ✔ Tenure ✔ Margin ✔ Features ✔ Benefits.
SBI Fixed Deposit FD Interest Rates December 2019: फिक्स्ड डिपॉजिट को निवेश का सबसे सेक्योर और अच्छा माध्यम माना जाता है. पब्लिक सेक्टर के सबसे बड़े बैंक. Bank also slashes its Retail TD and Bulk TD interest rates by 10 bps and 30 bps respectively for 1 year to less than 2 years’ tenor w.e.f. 10th October, 2019,” the SBI said in a statement. Under the revised interest rates on retail domestic fixed deposits for an amount below Rs 1 crore, SBI offers a maximum interest rate of 6.85 per cent per annum on fixed deposits (FD) for non-senior citizens for a tenor between 5 years and 10 years, the interest rate for the same tenor for senior citizens is at 7.35 per cent per annum. SBI FD Interest rates in 2019 were almost at similar level. 2) Fixed Deposit rates in Post office offer between 6.9% to 7.2%. Though Post Office FDs offer higher rates, these are still lower than some of the banks indicated above. 3) ICICI FD Interest Rates would differ between premature withdrawal FDS and no premature withdrawal FD schemes. The tenor range offered by SBI for this scheme is from 5 – 10 years with a rate of return of 7.35 per cent per annum. If one chooses to invest in the scheme for 211 days to 1 year they will enjoy an interest rate of 6.90% per annum. Subsequently, if the investment is made for 1 to 2 years, an interest rate of 7.20 per cent per annum is provided.
Single account holder can avail overdraft TDR and STDR online through internet banking, avail loan upto 90% of deposit. Loan amount for online overdraft against FD is Rs 25000 to Rs 5 Crore.
Table of Contents
- 1 SBI Loan Against Fixed Deposit Details
SBI Loan Against Fixed Deposit Details
Fee & Charges of SBI Loan Against Fixed Deposit
Interest Rate | 1% above the relative time deposit rate. |
Amount of Loan | Minimum Rs 25000 to Maximum Rs 5 Crore. |
Processing fee | Nil. |
Repayment Period | Upto 5 years. |
Margin | Avail loan up to 90% of your Time Deposit value. |
Type of loan | Demand Loan & Overdraft. |
Eligibility to Avail SBI Loan Against Fixed Deposit
How to get free money on huuuge casino. Customers (Single/ Joint Account Holder) holding SBI’s TDR/STDR / RD / including NRE/NRO/RFC and FCNR(B) Deposit can avail this loan. Single Account Holder can also avail Overdraft against TDR and STDR online through Internet Banking platform.
SBI Loan Against Fixed Deposit Advantage
- Loan up to 90% of the value of term deposit.
- Both Demand Loan and Overdraft Facility as per your need.
- Low interest rates.
- Interest rate on a daily reducing balance.
- Zero processing charges.
- No prepayment penalties.
Important Points About Loan Against Fixed Deposit From SBI
- The tenor cannot exceed 5 years.
- You cannot avail loan/overdraft facility against tax-saving fixed deposit (with a lock-in of 5 years).
- Banks provide loans only against their fixed deposits.
- SBI minimum amount 25,000 has an upper cap at Rs 5 crore.
- Suitable repayment schedule will be fixed depending upon the repayment capacity of the borrower. Maximum repayment period upto 5 years against STDR/e-STDR and upto 3 years against TDR/e-TDR respectively for Overdraft availed online
Sbi Domestic Fixed Deposit Interest Rates 2019
FAQs
How much overdraft limit can be availed – The customer will be able to avail 90% of his e-STDR / STDR value and 75% of his e-TDR / TDR as Overdraft facility on the Internet banking platform. At Branch level the customer can avail 90% of his underlying security value as Demand Loan/ Overdraft facility.
Minimum and maximum overdraft limit – The minimum loan amount for availing overdraft facility is Rs 25,000 and maximum overdraft limit can be availed against your Fixed Deposits Rs 5 Crore. Best betting tips on telegram subscription.
Overdraft be availed in joint name – No, currently only Customer holding TDR/STDR/e-TDR/e-STDR with SBI in Single name only can avail the facility online. Joint Account Holders have to visit SBI Branches for availing facility.
Repayment period – The maximum repayment period overdraft against e-STDR / STDR is 5 years, maximum repayment period overdraft against e-TDR / TDR is 3 years (residual period which is less, subject to minimum of 6 months).
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