HDFC Bank’s NRI Loan Against Fixed Deposit allows NRIs to meet their financial needs without prematurely breaking their Fixed Deposits. With attractive interest rates and flexible loan tenures, this facility offers an efficient and convenient way to access funds by leveraging your investments.
Key Benefits & Features of Loan Against FD
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Loan Benefits
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Loan Details
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Most Important Terms & Conditions
More About NRI Loans Against FD
With such loans, you can retain the interest earnings on your deposits while accessing liquid funds. You do not need to break your fixed deposits prematurely. Many NRI FD Loan options offer flexible repayment options and competitive interest rates.
The process for NRI Loan Against FD is simple - submit your application along with required documents (proof of identity, address, and deposit details) to the Bank. The process is typically quick and hassle-free for existing NRI customers.
Frequently Asked Questions
HDFC Bank’s NRI Loan Against Fixed Deposit allows NRIs to meet their financial needs without prematurely breaking their Fixed Deposits. With attractive interest rates and flexible loan tenures, this facility offers an efficient and convenient way to access funds by leveraging your investments.
There are generally no tax implications for a Loan Against Fixed Deposit for NRI, as the loan amount is not considered income. However, the interest paid on the loan may be deductible from your taxable income, subject to applicable tax laws.
Yes, NRIs can avail Loans against their Fixed Deposits held in foreign currencies, such as FCNR (Foreign Currency Non-Resident) Deposits. The loan amount and interest rates may vary based on the currency and the bank's policies.
The maximum loan amount typically ranges from 70% to 90% of the fixed deposit value, depending on the type of deposit (NRE, NRO, or FCNR) and the bank's lending policies. Some banks may offer higher loan-to-value ratios for specific deposit types or tenures.