Need A Financial Product Forums Loans Loan against FDs or outright purchase of flat from FDs

This topic contains 1 reply, has 2 voices, and was last updated by  Jitendra Tiwari 2 years, 8 months ago.

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  • #48082

    I am retired pensioner. I have FDs worth Rs. 45 lakhs with SBI and PNB. Since, till now my family has been staying in a rented accommodation, I am inclined to purchase a flat for Rs. 30 lakhs. This will secure the future of my children as well. Rather than purchasing the flat from my fixed deposits, I am planning to take a loan against FDs. What will you suggest? Should I break FDs or should I take loan against them?

    #48083

    Since securing your children’s future is your main concern I will suggest you to break FDs for the purpose.

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