🏦 Loan Against Fixed Deposit (FD)
Secure Instant Funds Without Breaking Your FD – Powered by BMFS
Overview
A Loan Against Fixed Deposit (LAFD) from BMFS provides quick access to funds by pledging your FD as collateral. This allows you to meet urgent financial needs while your deposit continues to earn interest.
⚙️ How It Works
- Pledge Your Fixed Deposit: Use your existing FD with BMFS as collateral.
- Loan Amount: Up to 75% (Cumulative FDs) or 60% (Non-Cumulative FDs). In special cases, up to 90%.
- Interest Rates: Typically 2%–3% above your FD rate.
- Loan Types: Choose a term loan or overdraft facility.
- Repayment: No EMI or NACH. Repay anytime before FD maturity. Unpaid amounts are adjusted from maturity value.
- FD Earnings: Your FD continues to earn interest normally.
✅ Key Benefits of LAFD from BMFS
| Benefit | Details |
|---|---|
| Preserve Your FD | Access funds without breaking your fixed deposit |
| Lower Interest Rates | Better than unsecured personal loans |
| Quick Disbursal | Funds released within 24 hours |
| Minimal Documentation | Easy and fast process |
| No Credit Score Required | Ideal for borrowers with limited credit history |
| Zero Prepayment Charges | No penalty for early repayment |
| No Extra Collateral | Only your FD is required |
🎯 Eligibility Criteria
- Must be an Indian citizen
- FD must be with BMFS and minimum 3 months old
- Available to salaried, self-employed, and business owners
- Not applicable for tax-saving or third-party FDs
📝 How to Apply
Existing Customers:
- Login to the BMFS Customer Portal
- Select "Loan Against FD"
- Pledge your FD and submit request
- Get instant approval & disbursal
New Applicants:
- Visit the nearest BMFS branch or apply online
- Submit FD receipt, ID and address proof
- Loan disbursed within 24 working hours
📊 Loan Terms at a Glance
| Feature | Details |
|---|---|
| Loan Amount | Up to 75% (Cumulative) / 60% (Non-Cumulative) |
| Interest Rate | 2% – 3% above the FD rate |
| Minimum Loan | ₹3,000 |
| Tenure | 1 month to FD maturity |
| Repayment | Flexible; no EMI required |
| Foreclosure Charges | None |
| Disbursal Time | Within 24 hours post-verification |
❓ Frequently Asked Questions (FAQs)
Q1: Can I take a loan without breaking my FD?
A: Yes, your FD remains intact while you access funds.
Q2: Will my FD continue to earn interest?
A: Yes, your FD continues to earn returns.
Q3: Do I need to pay EMIs?
A: No, you can repay anytime before maturity.
Q4: What happens if I don’t repay before FD maturity?
A: The loan amount and interest will be deducted from FD proceeds.
Q5: Do I need a credit score?
A: No credit score is required.
🌐 Why Choose BMFS?
BMFS is a trusted financial institution delivering secure, convenient, and flexible credit solutions. With our Loan Against Fixed Deposit, you can meet your financial goals without sacrificing your savings.
💡 Ready to Get Started?
Leverage your FD without breaking it.
Apply now for a Loan Against Fixed Deposit with BMFS and get the funds you need—when you need them.
