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A deposit loan allows you to access funds without breaking your fixed deposit and daily deposits.. Kadalundi Bank provides loans up to 90% of the FD value at interest rates just 2%-3% higher than FD rates. Benefits include zero processing fees, flexible repayment terms matching the FD tenure, and uninterrupted FD interest earnings.
To apply for a loan against a fixed deposit, you will need to submit the following documents:
| Loan type | Borrowed sum | Interest rates |
|---|---|---|
| Loan against term deposit | Up to 90% of deposit sum | Deposit rate + 1% |
| Loan against daily deposit | 90% of the outstanding amount | 7.5% |
| Loan against term deposit overdraft | 90% of the deposit amoun | 10.6% |
