MoneyLens / Credit lines
Your credit line, explained.
Overdraft against FD · Tapti Bank Ltd · ••••2217
Illustrative
Overdraft against FD
Statement30 Sep
Used
₹1,20,940
₹3,29,060 available
Net cost
2% a year
about ₹202 a month over the FD
Rate a year
9.10%
FD earns 7.10%
Limit
₹4,50,000
90% of the FD
26.9% of the limit used₹3,29,060 available
An overdraft against FD from Tapti Bank Ltd with a ₹4,50,000 limit at 9.10% a year. Interest runs only on what's used, from the day it's used; the deposit keeps earning meanwhile but stays under lien. ₹1,20,940 is used now.
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