InvestorQ : Is it true that I can get a loan on my recurring deposit?
Ankit Patil made post

Is it true that I can get a loan on my recurring deposit?

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Swapnil Sarang answered.
3 years ago
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Yes, it is absolutely true that you can get a loan on your recurring deposit. In such a situation the amount you have deposited in your recurring deposit is treated as a collateral or as a security against the loan given by the bank.

Do note, however, that you will not get 100% of your deposit amount. This is in line with standard loan procedures. You could get up to 80-90% of the deposit amount as your loan amount.

Thus, not only does a recurring deposit offer a good option for saving and investing your money, it will also ensure you don’t go from pillar to post searching for a collateral when you need to take a loan.

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