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FD maturity new rule by RBI, minimum interest on fixed deposit

FD maturity new rule by RBI, minimum interest on fixed deposit
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FD maturity new rule by RBI, minimum interest on fixed deposit

FD maturity new rule by RBI, minimum interest on fixed deposit

FD NewsReserve Bank of India has issued a circular reducing the interest on FD. If you make a fixed deposit in a bank and forget that fixed interest will be available all the time, then you need to pay attention as this new rule can cause a lot of damage.

New Delhi. Big news has come about Fixed Deposit by Reserve Bank of India. By this new rule of RBI, you will get less interest on your deposit FD. Under this new rule, there may be a loss of about 3-4% on interest, not one or two percent. Actually RBI has made a new change regarding FIXED DEPOSIT, so that if you do not claim your FD on maturity, then you will be given minimum interest.

Till now interest was available on FD like this

When you deposit your deposit with the bank in the form of a fixed deposit and expect a safe return, the bank also gives complete protection of your FD and interest. Therefore, whenever you make an FD for the number of years, the bank pays the fixed interest on it at the prescribed time. Many times it also happens that if the customer did not claim on the maturity of the FD, then his FD was extended again by the bank for such a period of time so that he forgot without worrying about getting the FD done. But now this will not happen because RBI’s rule on FD has been changed.

READ MORE:- IDBI Bank has changed the interest rates on FD

RBI’s new rule regarding FD

A circular has been issued by RBI, in which a new rule has been issued regarding fixed deposits, according to which if your FD becomes mature and you do not claim by going to maturity of the bank, then you will get the interest rate on the savings account. will be paid. Meaning the interest you will get will be available on the basis of Saving Account which is very less. This new rule will be applicable to all commercial banks, small finance banks, cooperative banks and regional banks.

how will the loss

People deposit money in banks by adding pie and FD is considered a safe investment, so people have more trust in FD. But this new rule will cut the pocket of the public. Actually the interest received on Saving Account is between 3 to 4 percent and the interest on FD is above 5 percent.

READ MORE:- Big change in the rules for making FD, one mistake can cause damage

In some cases, such as senior citizens and other special categories, the interest is slightly higher than normal. Now according to this new circular on FD deposit of RBI, if the FD maturity is not claimed, then the interest will be available as much as the savings account i.e. only 3 to 4 percent.

Suppose your bank gives 3 percent interest on savings account and 6 percent on FD. Now if you do not claim maturity, then the interest you will get will be available only at 3 percent i.e. straight half interest. This loss can significantly outweigh your gains.

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