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I have a few FD's locked in for a period of 2 years. However, I am not very liquid at this point and I need access to that money immediately. What are my options? Can I take a loan against my Fixed Deposit's or do I need to break them and lose out on the interest that I have earned for 1 year. Also, roughly how long would this procedure take?

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You would need to check with Bank as it varies from Bank to Bank.

You can break the FD's. Generally you don't loose the interest you have earned for 1 years, however the rate of interest will be reduced. i.e. if the rate was 7% for 1 year FD and 8% for 2 years FD, when you break after a year you will get only 7%. Generally this can happen in few hours but definitely in 2 days.

You can get a Loan against FD's. Generally the rate of interest is 2% higher than FD rate. There is also initial processing fee, etc. Check with the Bank, it may take few days to set things up.

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