Loan against fixed deposit is a secured loan where you can pledge your deposit as collateral and get a loan in return. In case of a financial emergency such as medical expenses or paying off for marriage, people tend to look out for loans from a lot of sources to meet their needs.
Last Updated Date: May 17, 2022
With the vision to become the most trusted bank by providing the latest banking services and support to its customers, Civil Bank has started its banking journey from 2010. This bank has become a bigger institution in terms of capital, asset sizes and branches. In the short span of time it has uplifted its status so much that its workforce has also increased significantly to exceed 400 and has 41 branches of network. By expanding its network branches and workforce, it has been able to meet the needs and every demands of the customer. It has the superior values and moral principles which aims to succeed and reach to the higher status by maintaining the corporate values. On the banking journey it has moved forward with the mission to become the Nepali’s banking partner by extending all types of banking services. The main objective of the Civil Bank is to be innovative and be dedicated to customer services. By providing prudent expansion on the services and by providing competitive human resources, Civil Bank tries to contribute directly or indirectly in the economic growth of the country. Civil Bank has now substantially grown to become a bigger institution in terms of capital, asset size and business volumes. With the completion of recent merger with (former) International Leasing and. In a short span of time, the total strength of the bank’s workforce has also increased significantly to exceed 850+ and its network of branches have reached 97 enabling the Bank to meet the demands and financial/ banking requirements of the customer across the country more efficiently.
Loan against FD (Fixed Deposit) is a type of secured loan where customers can pledge their fixed deposit as security and get a loan in return. The amount of loan depends on the FD deposit amount. This can go up to 90% – 95% of the deposit amount. During a cash crunch or emergency, people tend to look for loans from a lot of sources. One of those sources can be getting loans against fixed deposits (FD) from banks. This is a time-efficient way of getting a short-term loan. Instead of breaking the FD prematurely, depositors can easily apply for a loan against their FD with the bank. When availing loan against fixed deposit, banks keep customer’s FD as the collateral. This makes the loan thus raised secured. Since it’s a secured loan, interest charged for the same is cut short. In case the loanee is not able to repay the loan amount, the bank can easily procure it from the FD amount. Usually, this amount is settled at the time of maturity.
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