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Q.

I have a fixed deposit in a bank, that fd will mature on next march 25 i need some money urgently, so should i breack the fd or should i take a loan on that fd, plz advice me.?

Tags: money, advice, real estate
Asked by provu rai, 18 Jan '13 12:04 pm
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Answers (7)

1.

It is easy to compare when you calculate interest you would be paying on loan and interest loss (incl penalty) on pre-mature closure.
If you think you will be able to repay the loan in a few months, better take loan.
Another reason for not breaking - though not arithmetical, is that once you break FD, you may end up spending all the money.
Answered by Cynic, 18 Jan '13 12:16 pm

 
  
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2.

Break fd........is a better option...............
Answered by HRITIK PANDE, 18 Jan '13 12:08 pm

 
  
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3.

If the maturity is far away better to break it as the interest charged is much higher
Answered by RANGBARSE, 18 Jan '13 12:07 pm

 
  
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4.

Break the FD as the interest on loan is higher than you are getting in FD.
Answered by arun mishra, 18 Jan '13 12:07 pm

 
  
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5.

Bank advised me to get a loan for te benefit.
Answered by anantharaman, 18 Jan '13 03:51 pm

 
  
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6.

1. Ur requirement may be deferred by 2 months, whch will be best.
2. O'wise if U get loan fr any frnd ( without interest , I hope), then take it.
3. If above two, not materializes, U break the FD & u'll not get interest for 2 months.
4. But, hv th way, U not any money in Savings A/c??
Answered by Nitin Ray, 18 Jan '13 12:27 pm

 
  
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7.

If there is no penal clause for premature withdrawal then better to close and if the amount is meager then better to take a loan. (Ex . IDBI do not apply penal clause for premature closure)
Answered by jameel ahmed, 18 Jan '13 12:18 pm

 
  
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