Hello everyone, I'm Hari Vemula, if I will take loan of ₹1,50,000 against FD what is the interest rate. Bank interest rate is 5.75% for 5 years on FD. So how much they changed on Overdraft daily basis. Anyone please help me.
9 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 06 June 2022
6.75% , the above member answer is correct
Hari
(student)
(119 Points)
Replied 06 June 2022
thanks but I want full calculation. will help you me
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 06 June 2022
Please explain your query correctly
Hari
(student)
(119 Points)
Replied 06 June 2022
If I take OD of ₹1,50,000 from the FD of ₹3,00,000. How much interest can I pay to the bank every month. FD interest rate is 5.75% and OD interest rate is 2% extra on FD interest rate. OD interest is daily basis.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 06 June 2022
Rs. 32 interest calculated per day on overdraft and interest of Rs. 47 paid to you on fd daily
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 06 June 2022
Generally OD against FD interest is 1% more than the FD Interest
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 07 June 2022
Query is how much to pay not what bank pay
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