Multiple changes have been done in the banking sector but the trust in FD is the same. This is one of the simple methods to save his money over the years. But if you facing the financial problem and you do not have any other saving apart from FD then what you do.
Benefit Of FD:
High Loan Volume:
The Loan amount depends on the lenders most of the financial institutions offer up to 90% of your principal amount so you need to check how much amount your lender offer loan on FD.
Low-Interest Rate:
The interest rate on loans against FD is much lower than the others. if you compare to the personal loan it is offering 14% that is too high.
Anyone can avail:
No matter how much your CIBIL score and how much your credit score but you have an FD account then you are eligible for it.
Instant Loan Disbursal:
Loan against FD is the best option if you need some urgent funds. Most of the people prefer this apart from others because the loan disbursal process is quick and easy.
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