Loan Against ICICI Bank FD

1. Loans can be availed by account holder or third party individuals in case of NRI accounts.
2. Up to 90% of deposit value that includes both principal and accrued interests can be availed as loans. Upper limit is subject to Rs.5 crore for NRI deposit accounts.
3. Easy process of disbursal.
4. Hassle free application.

Eligibility criteria for applying for Loan against ICICI Fixed Deposit

An applicant should have a fixed deposit account with ICICI Bank to avail this loan. NRI account holders with NRO, NRE or FCNR deposits can also apply for loan against fixed deposit accounts.

How to Apply for a Loan Against FD

Individuals can avail an Overdraft (OD) against the amount that is available in an FD account by using the InstaBIZ app or via ICICI Bank Corporate Internet Banking (CIB). No physical documents will need to be submitted to apply for the loan as well. The procedure to apply for a loan is mentioned below:

1. Log in to the InstaBIZ app or CIB.
2. Enter the tenure and the limit.
3. Next, the Aadhaar authentication must be completed.
4. Once the above step has been completed, the setup of the limit will be completed.

Loan against ICICI Bank Fixed Deposit Interest Rate

The interest rate will be quoted by the bank. In general, loans against fixed deposits are available at 2-3% premium over the interest offered to the deposit.