Thinking of taking a loan against your fixed or recurring deposit to pay off your debts?

Take a look at State Bank of India Loan Against Time Deposit.

State Bank of India Loan Against Time Deposit

This loan helps borrowers to get funds against Time Deposits such as Fixed Deposits (FDs), Recurring Deposits (RDs), etc. to meet their urgent financial needs including wedding expenses, travel expenses, medical expenses, etc. This scheme can also be repurposed into a consolidation loan to pay off their high-interest credit card debts and loans, thereby consolidating their debts.

Features of SBI Loan Against Time Deposit

Why this Loan?

  • The SBI Loan Against Time Deposit is designed to help SBI internet banking service users avail an overdraft or loan against fixed/recurring deposits to meet their urgent financial needs
  • 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 this loan

Loan Amount

  • The maximum loan amount offered under this loan scheme is Rs. 5 crore


  • The interest rate applicable to this loan 1% above the time deposit rate


  • This loan must be repaid within 5 years or residual period of the Fixed Deposit (FD)/Recurring Deposit (RD), whichever is earlier

Margin Money (Borrower’s Contribution to Total Cost)

  • The bank charges up to 10% of the loan amount depending on the type of borrower, maturity period remaining at the time of applying for the loan

Processing Charges

  • The bank does not charge any money for processing this loan

Documents Needed

  • 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

Reference Facts

  • State Bank of India Website: and (net banking)
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Toll-Free Number: 1800 11 2211, 1800 425 3800