Carousel with 1 slide
Access Funds Without Breaking Your Fixed Deposit
Need funds for an emergency, investment opportunity or short-term financial requirement? With Ujjivan SFB's Overdraft Facility against NRE and NRO Fixed Deposits, you can unlock liquidity while your deposit continues to earn interest. Avail up to 80% of your Fixed Deposit value as an overdraft at an attractive interest rate of just 2% above your FD interest rate, without disturbing your investment.
Key Features/Why Choose Ujjivan SFB Overdraft Against Fixed Deposits?
Up to 80% Funding Against Your FD:
Access funds up to 80% of the value of your eligible Fixed Deposit while keeping your investment intact.
Attractive Interest Rate
Avail the overdraft facility at only 2% above the applicable Fixed Deposit interest rate.
Continue Earning FD Interest
Your Fixed Deposit remains active and continues to earn interest throughout the tenure.
Quick and hassle-free access to funds
Meet your liquidity needs without breaking your Fixed Deposit.
Pay Only for What You Use
Interest is charged only on the amount utilized and not on the entire sanctioned limit.
Convenient Digital Access
Access and manage your overdraft account through Ujjivan SFB Internet Banking and Mobile Banking.
Cheque book facility
Available upon specific request.
Flexible Limit Enhancement
Increase your overdraft limit by pledging additional eligible Fixed Deposits of the same deposit type.
Zero Processing Fee
Enjoy the overdraft facility with no processing charges.
Eligibility
The facility is available subject to the following conditions:
Available against eligible NRE and NRO Fixed Deposits maintained with Ujjivan Small Finance Bank
Overdraft facility can be sanctioned only to the depositor(s) in whose name the Fixed Deposit is held
In case of joint deposits, all deposit holders must provide consent and execute the required documents.
Fixed Deposits must be under Auto Renewal mode
Minimum Fixed Deposit value required is ₹25,000
Customer must be fully KYC compliant
Factors to Consider
The facility cannot be available against:
Non-callable deposits including Platina Deposits.
Recurring Deposits (RDs).
Minor Deposits.
Encumbered, attached or already lien-marked deposits.
Third-party Fixed Deposits.
Fixed Deposits maintained with other banks.
Standalone Fixed Deposits
Account Structure
Separate Facilities for NRE and NRO Deposits
NRE and NRO Fixed Deposits cannot be clubbed together for sanctioning a single overdraft facility.
Separate overdraft facilities must be maintained for NRE and NRO Fixed Deposits.
Only one overdraft account is permitted for each deposit category (one OD against NRE Deposits and one OD against NRO Deposits).
Interest Servicing
Monthly debit interest applied to the overdraft account will be automatically recovered from the linked NRE or NRO Savings Account on the 1st day of every month.
If the pledged Fixed Deposit is under a monthly or quarterly interest payout option, the interest payout will be automatically redirected and credited to the overdraft account during the tenure of the facility.
An Auto Standing Instruction (SI) will be created during overdraft account opening.
Renewal of Overdraft Facility
Customers who wish to continue the facility must provide their concurrence for renewal before expiry.
The tenure of the overdraft facility shall not exceed the tenure of the underlying Fixed Deposit.
In case multiple Fixed Deposits are pledged, the overdraft tenure shall not exceed the maturity date of the earliest maturing Fixed Deposit.
Renewal will be subject to satisfactory conduct of the account and prevailing Bank policies.
The overdraft facility will be sanctioned for a period of one year.
Closure and Recovery
After providing reasonable notice, the Bank may liquidate the pledged Fixed Deposit(s), recover outstanding dues and transfer any remaining balance to the linked savings account specified in the deposit records.
The Bank may also exercise its right to liquidate the pledged Fixed Deposit(s) and foreclose the overdraft account if the utilized overdraft amount together with accrued interest and other overdue amounts reaches 97% of the value of the pledged deposit(s).
If the overdraft facility is not renewed upon expiry, the Bank reserves the right to discontinue the facility.
Permissible End Use of Funds
Overdraft proceeds may be used for purposes permitted under applicable RBI and FEMA regulations, including
Personal requirements.
Legitimate business activities.
Investment in India on a non-repatriation basis, subject to regulatory guidelines.
Acquisition of residential property in India, subject to FEMA regulations.
The facility shall not be used for:
Relending activities.
Agricultural or plantation activities where restricted by regulations.
Real estate trading or speculative activities prohibited under applicable laws.
Any purpose not permitted under RBI or FEMA guidelines.
Repatriation Restrictions
The overdraft amount shall be disbursed only in Indian Rupees.
Funds availed under the overdraft facility cannot be repatriated outside India.
Overdraft proceeds cannot be transferred or credited to NRE accounts.
Utilization of the facility shall be subject to applicable RBI and FEMA regulations.
FAQs
You can avail up to 80% of the value of your eligible Fixed Deposit.
The overdraft facility is available at only 2% above the applicable Fixed Deposit interest rate.
Yes. Your Fixed Deposit will continue to earn interest as per the contracted rate and tenure.
Yes. The account can be accessed through Ujjivan SFB Internet Banking and Mobile Banking.
Yes. Cheque book facility can be provided upon request.
Yes. Additional eligible Fixed Deposits of the same category can be pledged to enhance the existing overdraft limit.
No. NRE and NRO deposits cannot be clubbed together. Separate overdraft facilities are required.
No. Non-callable deposits including Platina Deposits are not eligible for this facility.
Apply Today
Unlock liquidity while keeping your savings invested. Avail Ujjivan SFB's Overdraft Facility against NRE and NRO Fixed Deposits and enjoy convenient access to funds whenever you need them.