Thread Starter
#1
Has anyone taken loan against fixed deposit? Can you throw some light on this?.
1. I spoke to an sbi person. She told me interest rate is 0.5% higher than the fd. She redirected me to another person who told me its 1% higher. Dont know who is right. does anybody know how much is the int rate? (diff between fd) is this negotiable?
2. How is the payment made to the dealer? Is it that the bank will give a cheque book to me? and i will have to issue a cheque to the dealer? (unlike the regular loan). if this is how it works, wont it catch the Income tax guys's attention?
1. I spoke to an sbi person. She told me interest rate is 0.5% higher than the fd. She redirected me to another person who told me its 1% higher. Dont know who is right. does anybody know how much is the int rate? (diff between fd) is this negotiable?
2. How is the payment made to the dealer? Is it that the bank will give a cheque book to me? and i will have to issue a cheque to the dealer? (unlike the regular loan). if this is how it works, wont it catch the Income tax guys's attention?