Thinking of taking a loan against your term deposits to pay off your debts?
Take a look at Axis Bank Loan Against Fixed Deposit.
Axis Bank Loan Against Fixed Deposit
This loan helps borrowers to get funds against Fixed Deposits (FDs) to meet their urgent financial needs including wedding expenses, travel expenses, medical expenses, debt consolidation, etc. without liquidating the FD. The maximum loan amount sanctioned under this loan is up to 85% of the value of the FD.
Features of Axis Bank Loan Against FD
Why this Loan?
- The Axis Bank Loan Against Fixed Deposit is designed to help Axis Bank FD holders to meet their urgent financial needs without liquidating the Fixed Deposit
- The funds availed from this scheme can be used for personal needs including child’s education expenses, wedding expenses, expenses for overseas or domestic travel as well as for consolidating debts
- There are no pre-payment penalties on the early closure of this loan
- The minimum loan amount offered under this loan scheme is Rs. 25,000. The maximum loan amount offered under this loan scheme is up to 85% of the FD value
- The interest rate applicable to this loan 2% above the fixed deposit rate
Repayment & Margin Money (Borrower’s Contribution to Total Cost)
- As of October 2020, this information is not mentioned on the bank’s website. Please call the bank customer care number before applying for this loan
- The bank does not charge any money for processing this loan
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
- Axis Bank Website: www.axisbank.com
- Headquarters: Mumbai, Maharashtra
- Call Centre Number: 1860 419 5555, 1860 500 5555