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Interest on Overdraft against FD

Hari (student) (119 Points)

06 June 2022

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.

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9 Replies

Naveen Kumar (729 Points)
Replied 06 June 2022

I think 1%extra

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 06 June 2022

6.75% , the above member answer is correct

1 Like

Hari (student) (119 Points)
Replied 06 June 2022

thanks you all but I want full calculation.

Hari (student) (119 Points)
Replied 06 June 2022

thanks but I want full calculation. will help you me

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 06 June 2022

Please explain your query correctly

1 Like

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.