Overdraft against FD vs Loan against FD - which is better ?

Here's a table comparing overdraft against FD and loan against FD:

FeatureOverdraft against FDLoan against FD
FlexibilityMore flexible; withdraw and repay as neededLess flexible; fixed loan amount
Interest rateLower than personal loans, higher than FD rateFixed, typically higher than overdraft rate but lower than personal loans
Processing feesUsually noneMay be charged by some banks
Impact on FDNo impact on maturity or interestMay affect maturity or interest
LimitLower limitHigher loan amount available
RepaymentFlexible, no fixed scheduleFixed repayment schedule
Risk of overspendingHigher due to easy accessLower due to structured repayment
Best forShort-term needs, small amounts, those who value flexibilityLarger amounts, longer terms, those who prefer predictability and structure