Need A Financial Product Forums Trading/Investments Do surplus funds parked in OD account earn interest

This topic contains 1 reply, has 2 voices, and was last updated by  Ankur Khandelwal 3 years, 2 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
  • #48384

    Early this year, I have taken a home loan for Rs. 58 lakhs under SBI max gain home loans scheme. I checked my loan statement, it shows available balance limit and drawing power both at same level of Rs. 58 lakhs. Book balance is reflecte as zero. If I park my surplus fund of Rs. 8 lakhs in OD account, will I earn any interest on this deposit?


    If you will park Rs. 8 lakhs in OD account then the entire interest earned on this amount will be used by SBI to offset the interest on amount disbursed to you.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

About Us

Simplypaisa, a web initiative by Elite Wealth Advisors Ltd, has the primary objective to help readers make smart financing decisions. What is smart finance? How to make smart financing decisions to procure assets or to meet one’s personal needs? Information is critical to make smart financing decisions: be it to purchase your dream house, a car, to start a business or to enable an entrepreneur to meet his/her working capital needs.Read More...


Elite Wealth Advisors Ltd.
S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091.
Phone No: 011-42445800
Email :

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.