LHi,

Its around 1 yr am holding SBI MG acct with loan bank suggest to take MAX suraskha as well (please explain benefits for this as well).
But at that time I was not having money so bank provided loan for the same

My questions : –
Loan Account Details

• Description MAXGAIN SURAKSHA
• Limit 84,000.00
• Drawing Power 12,447.00
• Outstanding Amount 12,447.00
• Rate of Interest 10.8
• C.Y.YTD Interest 787.0
• P.Y.YTD Interest 433.0

Description SBI H L MAXGAIN AUG12

• Book Balance -28,18,403.00
• Available Balance 1,78,094.00
• Limit 29,96,497.00
• Uncleared balance 0.00
• Drawing Power 29,96,497.00
• Rate of Interest (% p.a.) 10.05%
• Lien Amount 0.00

Part I
1. Now I have some some surplus amount so should I clear the Suraksha acct i.e close it?
2. I want to bring my loan amt below 20 lac so how much should i try to save per year or put as a surplus amt in th MG (in short time)?
3. can you explain the terms in Suraksha aact (CY , PY, DP , outstanding amt is for year or overall?)

Part II
4. Also the MG ROI is seems to be increased to 10.05 from 9.95.
5.  I have few FD around 2L (ROI 8.5) they will expire in next 6 months so should i close those and put the money in SBI MG?

Looking for answers.thanks in adv