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FD Loan Approval Tricks: If you are also thinking of taking a loan to start some work but due to bad CIBIL score the bank has refused to give you loan, then this news is for you. Many times such situations arise in our lives when we are in great need of money. In such emergency situations, we often knock on the doors of banks for loans.

The bank checks the financial information and CIBIL score of the person before giving the loan. Whereas if the CIBIL score is low then the bank rejects the loan application. But is it possible to get a loan even without seeing the CIBIL score? Let us know how you can get a loan.

How to get loan against bad CIBIL score

If the bank has rejected your loan due to CIBIL score, then there is no need to worry. In this situation your FD will be useful to you. If you have an FD, then with the help of this FD you can get a loan without looking at the CIBIL score. However, the loan amount depends on your FD amount.

Let us tell you that you get a kind of secured loan on FD. In this loan, you are given loan on the guarantee of your FD. Therefore, in case of bad CIBIL score, taking loan against FD can prove to be an easy and reliable option.

How much loan will I get against FD?

On this type of loan, you are given up to 90 percent of the FD amount. That means, if you have an FD of Rs 1 lakh, you can get a loan up to Rs 90 thousand. If you repay the loan amount taken against FD on time, your CIBIL score can improve. You can improve your CIBIL score by up to 100 points by paying the FD loan amount. Whereas if for some reason you are not able to repay the loan, then the bank compensates the loan amount from your FD.