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Take a loan against your FD to clear your credit card dues
Financial Express Kochi
|October 18, 2025
YOUR QUERIES: LOANS
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· I have outstandings of ₹ 4 lakh on two credit cards and I am paying the minimum amount for the past three months. Should I liquidate funds from my fixed deposit and repay the amount in full? -Akash Batra
The revolving loans on credit cards are expensive. The interest rate can be in the range of 35% to 40% per annum. If the cash flows are not sufficient to pay off the credit card loans, then using the FD funds is financially a sound solution. You may also explore taking a loan against the FD from your bank to pay off the credit card loan. That way, you can reduce the interest outgo from 35-40% to only 10-11% per annum.
This story is from the October 18, 2025 edition of Financial Express Kochi.
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