Edit this postYou may check with your bank for OD facility. It's an FD created from your own funds and any amount utilised from it will attract 1% interest more than FD returns — only if utilised from the OD.
Eg.
If funds reqd are 70 lacs.
70x 1.2 =84
Create an FD of 84 to get an OD of 70.
The FD of 84 continues as an FD. You are liberty to peel any amount from your OD limit as and when you wish. The utilised amount from OD attracts a 1% higher interest than FD rate of interest.
Eg.
If funds reqd are 70 lacs.
70x 1.2 =84
Create an FD of 84 to get an OD of 70.
The FD of 84 continues as an FD. You are liberty to peel any amount from your OD limit as and when you wish. The utilised amount from OD attracts a 1% higher interest than FD rate of interest.
