INTERVIEW QUESTIONS LOAN LOAN AGAINST SECURITIES DETAILS

Question: Can tax saving fixed deposits be pledged as collateral?

Answer: No, tax saver fixed deposit investments cannot be pledged as collateral to secure any loan to meet your liquidity needs. Unlike normal fixed deposits tax saver fixed deposit investments come with no such provision. Since the sole purpose of these Five-year tax-saver fixed deposit schemes is to act as an investment vehicle that can double up as a effective tax saving instrument, such FDs do not come with any sweep-in facilities either. Also you do not have the option of premature withdrawal of investment made under the five year tax saver fixed deposit scheme.

No, tax saver fixed deposit investments cannot be pledged as collateral to secure any loan to meet your liquidity needs. Unlike normal fixed deposits tax saver fixed deposit investments come with no such provision. Since the sole purpose of these Five-year tax-saver fixed deposit schemes is to act as an investment vehicle that can double up as a effective tax saving instrument, such FDs do not come with any sweep-in facilities either. Also you do not have the option of premature withdrawal of investment made under the five year tax saver fixed deposit scheme. Source: CoolInterview.com

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