Premature withdrawal of bank FD or loan against FD: It may not always be a prudent idea to break off years of savings especially when the money is locked in at an attractive rate and liquidation is likely to result in a significant loss. How to decide when to withdraw your deposit and when to take a loan against it? ET Wealth online explains
Fixed deposit or FD: A loan against your fixed deposit (FD) is one of the most cost-effective and easiest possible loans available in the market. If you have a fixed deposit and want a loan, the bank will lend you the money against your deposit. How much loan can you take against your FD? What will be the interest rate, tenure, processing fee, repayment schedule? When should you opt for it? All questions answered
Updated Jan 16, 2021 | 07:15 IST
Some lenders also offer quick loans against credit card limit. You can avail this loan if no other option is available. Representational image
New Delhi: While an emergency or unexpected circumstances may occur at any moment, very few are prepared for it. It is always advised to create a contingency fund (equivalent to six months of your monthly income). But very few have it. In the absence of an contigency fund if you come across any medical emergency such as hospitalisation, you have to fund it through a loan. Here are five options to avail a quick loan in case of an emergency.