When you are in urgent need of money, one of the first things that come to mind is to break your Fixed Deposit (FD). However, that option is not at all worthwhile. Instead, availing a loan against your FD without breaking it saves both your time and money.
Loan against an FD is a feature most of the leading banks of India provide when you invest in their fixed deposit scheme. Borrowing a loan against your FD is a good option, for you need not break your FD before its maturity and you are eligible for a loan at a much lower interest rate.