SSK Dhanlaxmi Co-operative Credit Society also offers loans against fixed deposits (FD). A fixed deposit loan is a type of secured loan where customers can pledge their fixed deposit as collateral and avail of a loan in return. The loan amount depends on the fixed deposit value and can be up to 90% of the deposit amount.

You can avail of this loan at an interest rate 2% higher than the interest earned on your fixed deposit. Compared to other loan options, it proves to be more beneficial. Moreover, there are no processing fees or additional charges for this loan, unlike other loan options that often have such fees. Choosing this loan does not mean you lose your fixed deposit.A loan against a fixed deposit is a type of secured loan where customers can pledge their FD as collateral and obtain a loan in return. The loan amount depends on the fixed deposit value and can be up to 85% of the deposit amount.

Any individual with a fixed deposit account in SSK Dhanlakshmi Credit Society can apply for this loan. No additional documents are required for this process. The interest rates for loans against FDs are lower than those for regular loans. Additionally, there is no prepayment penalty for loans against fixed deposits.

1.Duly filled loan application form
2.Fixed deposit receipt(s) from SSK Dhanlakshmi Credit Society