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 2 years, 9 months ago.

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  • #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?

    #48385

    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.

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