Fixed Deposit Pleding

This query is : Resolved 
 

(Querist)
30 August 2008

Would like to know about the Fixed Deposit Pleding.Can Fixed Deposit Receipt pledge as collateral against any loan?

If so what will be the processes included in this?

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KamalNayanSaxena (Expert)
31 August 2008

Fixed deposit receipts can be pledged as collateral security against loan.

Standard forms like loan agreementare (in case holder is borrower), agreement for guarantee (in the case of guarantor), deed of pledge, consent letter etc., available with the financing istitutions, for this purpose.

If FDR does not pertains to that institution from which you are seeking loan then you have to obtain the written consent also.

You have to submit FDR putting your signature on the back of FDR.


arunprakaash.m. (Expert)
01 September 2008

Yes it can be pledges as that of other securities.



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