Page 8 - Fixed Deposit
Loan against fixed deposit is cheaper, more flexible than a personal loan
The effective rate of interest comes to 1-2%
 "Loan against fixed deposit is cheaper, more flexible than a personal loan")
Bank FDs to become unattractive?
Experts say FDs will become unattractive going ahead, and returns could turn negative, if you take into account inflation
Banking: Rajiv Anand
I am a senior citizen and always get the higher interest rate for fixed deposits. Now, I want to invest in a fixed deposit jointly with my minor granddaughter. Will I still get the higher rate of interest for this FD?The interest on fixed deposits (FDs) is offered on the basis of the primary account holder, i.e., FD can earn higher interest rate in case the primary/first holder is a senior citizen. In an FD opened in the name of a minor, the account gets opened in 'self or minor operated by guardian' mode and therefore cannot have a joint account holder. Hence, the differential rate of interest offered to senior citizens will not be applicable on this FD.I am due to retire in five years and my son has just started working. If we take a joint home loan, will we get a longer tenure? After my retirement, can he continue paying the Equated Monthly Instalments out of his salary and claim the tax benefits?Some lenders do offer a longer tenure in this scenario, with a flexible repayment plan