Unlock quick and seamless lines of credit using your fixed deposit as collateral, while keeping your savings intact to meet life’s needs and surprises alike.
All existing and new customers with a CASA relationship with Standard Chartered Bank India are eligible to apply.
Apart from one’s fixed deposits, one can also pledge an approved list of Debt Mutual Fund and bonds.
Yes, one can pledge jointly owned Fixed Deposits and avail the Overdraft facility together with the joint applicant.
You can avail up to 90% of the fixed deposit value, depending on the type of deposit and bank’s lending policies
The proceeds from loans against Deposits can be used for eligible personal purposes as granted by the bank however it cannot be used for purchase of gold in any form or any speculative trading, buying more shares, or participating in capital market activities or antisocial purposes and for other purposes which violates any RBI regulations modified from time to time
No — Your FD continues to accrue interest as usual during the loan tenure. The bank simply places a lien on the FD, and one may not break it during this period.
Yes — since charges for foreclosure are waived, one can choose to repay their loan early, at no extra cost.
Since FDs are pledged as collateral, the bank has a claim on the same. In the event of payment defaults, it reserves the right to adjust/ or encash the FD against the outstanding due amount, as per the agreement.
Credit enquiries may have a negligible impact on one’s credit scores. However, any default or late interest payments may result in a negative impact on your credit score.
No, you cannot pledge different securities together. However, you may avail separate loans against different type of securities
All credit facilities are at the sole discretion of the Bank and / or subject to RBI / SEBI regulations and all applicable laws from time to time.
