22nd June 2025, Kathmandu
Everest Bank has launched a customer-friendly Loan Against Fixed Deposit (LAFD) facility. This option allows individuals to meet urgent financial needs without withdrawing their savings.
Everest Loan Against Fixed Deposit
Borrowers can receive a loan of up to 90% of their Fixed Deposit (FD) amount. This makes it an ideal solution for short-term liquidity while continuing to earn interest on the FD.
Loan Designed For Personal And Social Needs
The loan is designed to support personal, social, or financial obligations. Whether it’s a family emergency, educational expense, or personal investment, this loan offers the required funds while keeping your FD intact.
Who Can Apply?
To apply for this facility, the individual must:
Be a natural person (individual account holder),
Maintain an active Fixed Deposit account at Everest Bank,
Be a registered user of the Omni Channel Mobile Banking platform.
These simple eligibility criteria make the loan widely accessible to FD holders.
Loan Features And Amount
The loan is provided in the form of an overdraft facility, giving borrowers flexibility in usage. The minimum loan amount is Rs. 50,000, while the maximum amount can go up to Rs. 1 crore, limited to 90% of the total FD value.
Interest Rate And Repayment Terms
The interest rate is competitive—only 2% above the FD interest rate. Repayment is tied to the maturity date of the Fixed Deposit, and borrowers are required to pay quarterly interest on the outstanding amount. At maturity, the loan is auto-settled from the FD account, eliminating manual hassle.
Zero Charges, Transparent Process
Everest Bank offers this facility with no processing charges and no prepayment penalties, making it highly cost-effective. However, if a borrower fails to pay on time, a penal interest rate of 2% above the applicable rate will be charged for the overdue amount and period.
Lien-Based Security And Digital Documentation
To secure the loan, a lien is marked on the fixed deposit. There’s no need for paperwork, as the borrower can digitally agree to all necessary documents via the bank’s Omni Channel platform. This streamlines the process and avoids the need for physical visits.
Facility Renewal For Reliable Borrowers
If the borrower maintains a good repayment track record, the loan facility is eligible for renewal, providing ongoing financial flexibility.
Conclusion
Everest Bank’s Loan Against Fixed Deposit is a simple, affordable, and fully digital solution for customers needing urgent funds without disturbing their savings. With zero fees, low interest rates, and hassle-free processing, this facility stands out as one of the most attractive short-term financing options in the market today.
For more:- Everest Loan Against Fixed Deposit