Fixed Deposit: You can take loan at this percentage on FD, you will have to pay this interest rate
Web Desk. A lot of individuals within the nation choose to get FD for a greater life in previous age. By investing in FD, they don’t have to face monetary issues sooner or later. Have you learnt at present {that a} mortgage may also be obtained towards FD if wanted? If not, at present we’re going to offer you info on this regard.
Allow us to let you know that you would be able to get a mortgage as much as 90 p.c of the worth of FD. Allow us to let you know that if the worth of your FD is one lakh rupees, then you will get a mortgage of as much as Rs 90,000.
The curiosity on this mortgage is 1 or 2 p.c greater than the curiosity on fastened deposits. Beneath this, if you’re getting 5 p.c rate of interest on FD, then you’ll have to pay 6 to 7 p.c rate of interest on the mortgage. You’ll be able to fulfill your wants with the mortgage acquired on FD.
PC: BusinessToday
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