FD New Rule: The Reserve Bank of India (RBI) has issued guidelines on many major changes regarding fixed deposits (FD) . Changes have been made in all banks regarding the interest received on fixed deposits. The interest rate may be different in all banks. The difference of this guideline of RBI will be direct to many banks. Today in this article know about the new rules of Fixed Deposit (FD) .
Recently, major changes have been made in FD by the Reserve Bank of India (RBI) . If you have also got fixed deposits in banks, then this news is very useful for you. If you also put your money in Fixed Deposit. So RBI has changed some rules. Due to which some new rules have become effective. For the last few days, the government has increased the interest rates on FDs in government and non-government banks. So now before getting an FD, know some rules. Otherwise you may suffer a great loss.
RBI issued FD New Rule
It has been told by the Reserve Bank of India (RBI) that if the customer has made a fixed deposit of 5 years, then it will be called an FD with maturity. If the customer does not withdraw the money then there will be two types of conditions. If the interest you are getting on FD today is less than the interest on that bank’s savings account, then you will continue to get fixed deposit interest. On the other hand, if the interest on FD is more than your savings account, then you will get the interest from your savings account only after maturity interest.
Indian Bank has increased interest rates on domestic fixed deposits (FDs) of less than Rs 2 crore. The bank had announced this change on June 1, 2022. Under which the bank has promised to increase the interest rates on deposits of 5 years and above from 2.80 percent to 5.35 percent. Due to which interest rates will increase.
Interest rates will increase for 7 to 6 months in FD New Rule
The bank will continue to offer 2.80 per cent interest rate on deposits for 7 to 29 days, while the interest rate on deposits for 30 to 45 days has been increased from 2.80 per cent to 3 per cent. The bank will continue to offer 3.25 per cent interest rate on fixed deposits with tenor of 46 to 90 days, while the interest rate on fixed deposits with tenor of 91 to 120 days has been increased from 3.35 per cent to 3.50 per cent. Indian bank will now offer an interest rate of 3.75 per cent on fixed deposits of 121 days to 180 days, as against 3.50 per cent earlier.
Interest Rates for Senior Citizens
To benefit senior citizens, Indian Bank has announced an additional interest rate of 0.50 per cent over the card rate in respect of short term deposits, fixed deposits and money multiple deposit schemes for all tenors up to Rs 10 crore. Similarly for RD accounts additional interest rate will be eligible for tenure of 6 months to 120 months.
