now that you are planning to close the fd, did you calculate how much interest you earn after also calculating penalty. If you required to close it anyway why not keep 1cr in sa only because your fd will also attract same roi only and not the roi mentioned in your 1 year fd
Around 30-35K penalty as to adjust FD ROI.
What was the interest amount of 50 days adjusting penalty
omg, do you realize you spent around 70k just to get that card. You could have earned 1 lakh in 50 days by keeping that amount in savings account say example idfc first bank.
I'm curious if you knew you will break the fd, why didn't you put that amount in savings account only and save the penalty charges. They are not okay with 1 cr in sa?
They are okay with CASA, can maintain 1 Cr in savings. There’s no penalty, it’s just ROI adjusted to what they have to offer for 2 months FD. It’s still more than ROI on SA.
Really..Cant stop laughing...MOD told you to keep ur mouth shut.....Check MOD message in your inbox
ha ha.....I deleted my self...I don't argue with people misusing govt schemes and surviving on 5 kg ration
Checked my inbox. Dint find anything. Checked my thread too - no one had supported you. Anyways you keep laughing - classic sign of lunacy.
I think if you are not able to stop laughing, you can enable the use of emojis, I hear that helps.
Very bad on you mocking people who survive on 5kg ration man. Quite shameful. You being rich entitles you to mock other people's poverty?
How is it a bad decision? If a person already has several crores in FDs and simply moves 1 crore to HDFC for 3 months?
You can’t keep worrying about every small thing. Otherwise, never buy that phone or TV or BMW or go on a vacation abroad as you would have earned XX amount in interest.
If your sole objective is to grow your money as much as possible and eventually swim in it like Uncle Scrooge, then yes— @Hackmebro probably made a mistake. However, if you view money as a means to an end—with that end being the Infinia card—then there was no mistake at all.
Yep, idk why people have started moral policing here. I mean telling a person is fine in polite manner, but give it up man when the said person doesn't have a problem going via this route. Who are you to tell a person what value what one investment holds.
Do you understand the notion of what something makes sense or not?
I beg you to give me this card!
No one is doing a moral policing here, the whole point of community is discussing and making sense out of it. If spending 70 to 80k for a credit card makes sense for him and he can pull out more value from it, we are all fine but he should actually know much he actually paid for it. Again we are doing a discussion, nothing is right or wrong. Earlier someone mentioned if he had money lying in fd already, he just moved money from one fd to other. Again a stupid reply IMO, he broke the fd in 50 days which means he earned 4.5 minus penalty so he affectly earned 3.5 to 4 percent. Now tell me who creates an fd for 3.5 percent.
Man you just dug up a whole history with @Lobogris
The reason it is a bad decision is because he earned 3.5 percent per annum on that fd. Only if he continued the fd for an year and if could have earned a decent 6.5 percent to 7 percent, then what you wrote could have made some sense.
