Here's what you need to know about  Education Loans against FD

Education Loans against FDs are becoming increasingly popular along with loans against property, gold, and mutual funds.

A maximum of 70% to 90% of the FD amount can be given as education loan.

Popular banks like SBI, Axis Bank, ICICI Bank, and HDFC Bank offer flexible education loan terms against Fixed Deposits.

The interest rates on such loans is 7% to 10.5% p.a. or 1% above the relative fixed deposit rate.

The documents include the duly filled loan application form and the fixed deposit certificate you’re using as a security.

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