Is it advisable to take a loan on FD? Srinivasan Iyer,Bangalore In case of a loan against fixed deposit (FD),the interest rate you need to pay will be fairly low compared to a personal loan as this is a secured loan and a personal loan is an unsecured loan. So,if you are in urgent need of money,loan against FD is more advisable than going in for a personal loan. You can also look at the option of breaking the FD rather than taking a loan against it,as it will save you of additional interest that you are paying to access your own money. Of course if the need is only temporary or the FD is for a large sum and breaking it partially is not allowed with your bank or your loan need is small then this may not be an appropriate solution. I have settled my credit card outstanding in February this year. Is it possible to take a loan from any bank this year? How can I check my CIBIL rating? Manish Kapoor,New Delhi You can visit the official website of CIBIL. From there you will have to download a form and forward that form to CIBIL with a demand draft of Rs 142 along with your identity documents mentioned. CIBIL will send you your own credit report. If you have defaulted in the past on your credit card and the default amount was significant and was outstanding for a long period (3-6 months) it will be difficult to get a loan even if you have settled the credit card fully in February. In case the bank has agreed to write off a certain fraction of the overdue amount then it will be highly impossible to get a loan for the next 2-3 years at least. I took health insurance cover 3 years back. Recently,I underwent a surgery,which I had intimated to the insurance company well in advance. After the surgery,the company denied the claim,citing that we did not submit the claim within the time limit of five days from the date of discharge from the hospital. I submitted the claim within 40 days from the date of discharge. What should I do now? Athar Khan,Lucknow Most of the mediclaim policies have a clause mentioned in the policy where you have to submit the claim within certain number of days (5 days in case of your policy) in the mediclaim policy. This is to prevent fraud and enable cross verification if required. But in case of some genuine reasons,if you are not able to submit the claim within those 5 days,then the insurance companies attend to the same. You can log in a complaint with the insurance ombudsman in case you are not satisfied with the response of the insurance company. Author is CEO,Apnapaisa.comFor your personal finance queries mail us at expressmoney@expressindia.com
