The Overdraft Facility against Fixed Deposit (FD) enables customers to meet short-term financial requirements without prematurely breaking their Fixed Deposits. Whether for emergency expenses, business needs, or personal requirements this, this facility provides quick and convenient access to funds while allowing the Fixed Deposit to continue earning interest.

Eligibility: Available to all customers holding a Fixed Deposit with the Bank and having an updated KYC.

Tenure: Based on maturity of the Fixed Deposit and maximum up to 12 Months, renewable thereafter.

Key Features:

• 90% of the Fixed Deposit value as an Overdraft facility.
• No Processing Fees.
• Quick Approval.
• Available in MVR and USD.
• Interest is charged only on the amount utilized.
• Competitive lending rates linked to the applicable Fixed Deposit interest rate.