Loan against Time Deposit

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Loan Against Time Deposit
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Do you want funds readily available to you whenever you desire or need, be it a sudden vacation that you plan with your family or urgent funds required for medical treatment? Then avail loan against Time Deposit without breaking your Time Deposit

Features

  • Avail Loan up to 90% of the value of your Time Deposit
  • Both Demand Loan and Overdraft Facility as per your need
  • Low interest rates. Further, we charge interest on a daily reducing balance!!
  • Zero processing charges;
  • No prepayment penalties.
  • Min amount of Loan (For Online Overdraft against Fixed Deposit): Rs 5000
  • Max amount of Loan (For Online Overdraft against Fixed Deposit): Rs 5 Crore
  • Margin :
    • For both Demand Loans and Overdrafts: Minimum 10% up to 5-years of loan tenure or remaining maturity period of the deposit whichever is earlier.
    • For Demand Loans: For loan tenure of more than 5-years and up to maximum of 10 years or remaining maturity period of the deposit whichever is earlier, minimum margin will be 15%.
  • Security Lien on underlying Time Deposit
  • Type of loan : Demand Loan& Overdraft
  • Channels : 
    • Through YONO and INB channels: Only overdraft facility is available.
    • At Branches: Both Demand Loan and overdraft facility are available.
  • Interest Rate: 1% above the relative time deposit rate

Eligibility

  • Through Branches: Customers (Single/ Joint Account Holder) holding SBI’s TDR/STDR / RD / including NRE/NRO/ and FCNR(B) Deposits can avail this loan.
  • Through INB and YONO platform: Only overdraft facility by Single Account Holder against TDR and STDR (issued through both branch channel and Online deposits)

At present, joint account holders are not being offered this facility.


Repayment

  • Demand Loan: Repayment tenure for DL is remaining maturity period of the deposit or 120 months whichever is earlier. Demand Loan account is liquidated at the time of maturity of Time Deposit if not repaid by the customer.
  • Overdraft: Maximum up to 5 years or remaining maturity period of the deposit whichever is earlier. OD limit can be renewed (by visiting branch) after the expiry of the existing term. Only overdraft accounts opened through branches can be further renewed. Overdraft account availed through YONO and INB channels has to be liquidated at the time of maturity of Time Deposit if not repaid by the customers.

FAQs

Individual Customer holding TDR/STDR/e-TDR/e-STDR with SBI in Single name only (No Joint Account Holders) can avail the facility online.

Joint Account Holders can avail this facility at the Branches. At Branch level the loan is also sanctioned against the security of RD/e-RD/NRE/NRO/RFC and FCNR(B) Deposits

e-TDR/e-STDR/TDR/STDR on which the customer wants to avail the overdraft facility online. Loan against RD/ NRE/NRO/ RFC/ FCNR(B) Deposit is not presently available on Internet banking platform

e-TDR/e-STDR/TDR/STDR/ RD/e-RD as well as against the security of NRE/NRO/RFC and FCNR(B) Deposits at the Branch level

Currently the online facility is restricted to Overdraft only. For availing Demand Loan customers need to visit the Branch

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

1% above the relative time deposit rate

The maximum Overdraft limit which can be availed online against your Fixed Deposits Rs 5 Crore.

There is no specific loan limit for advances at the Branches

The minimum loan amount for availing online overdraft facility is Rs 25,000. There is no specific minimum loan limit for advances at the Branch level

No, currently only Customer holdingTDR/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.

The maximum repayment period overdraft against e-STDR / STDR is 5 years or residual period which is less, subject to minimum of 6 months

The maximum repayment period overdraft against e-TDR / TDR is 3 years or residual period which is less, subject to minimum of 6 months

For loans sanctioned at Branch level, suitable repayment schedule will be fixed depending upon the repayment capacity of the borrower

The Customer to visit www.onlinesbi.sbi and log in using his User Id and Password. Overdraft against Fixed Deposit is available under e-Fixed Deposit tab. Alternatively customer can also approach the Branch for availing the facility

No, currently the Overdraft facility cannot be availed against the following:

  • MODS
  • Tax Saving Deposit
  • NRE TDR/ STDR
  • RD

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Last Updated On : Monday, 08-04-2024

Interest Rates

8.50%* p.a. onwards

w.e.f. 05.04.2024

*T&C Apply.

 

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