Image Credit by Google
“Look at the amount that you are thinking of putting in the fixed deposit that you have or maybe already have a little.
Image Credit by Google
Earning here is less than what you are earning or in other words what you are paying on your loan.
Image Credit by Google
That you have taken some amount from FD and that you can use to repay the loan,” says Arnav Pandya, Founder, MoneyEducationSchool.
Image Credit by Google
An interesting point about Fixed Deposits is that they attract for a specific period - some for 549 days, some for 15 months.
Image Credit by Google
The number of days or specific period the session occupancy is high. And what is the logic behind it and what is the reason?
Image Credit by Google
If you look at these types of offers, they are mainly from sites that offer a specific rate for a specific period of time.
Image Credit by Google
The one complaint anyone with a business would have is that they borrow money, a large portion of which comes from saved deposits.
Image Credit by Google
And then they lend it out to different degrees, whether it's corporate, or individuals, and so on. So each bank has a specific time period.
Image Credit by Google
For which they are giving more loans. Now it is not necessary that you are getting Fixed Deposit for the same period.