A major change in the rules of FD has been made by RBI, which has become effective at present. If you are going to get FD done or have already done it, then you may have to bear the loss.
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New rule of FD, rules changed again in IBI..........
Under the new rule of RBI, if you do not claim the amount even after maturity, then you will get the interest under the savings account only.
At present, the bank usually receives more than 5 percent interest on FDs with a long duration of 05 years or 10 years, while the savings account usually receives only 3 to 4 percent interest.
What is the new rule of FD?!
For example, if there is an FD with a maturity of 05 years, which has now matured and you are not withdrawing this money, then there will be two situations under the new rule: -
1. If the interest received on FD is less than the interest received from the savings account of that bank, then you will get the interest of FD only.
2 But if the interest received on FD is more than the savings account, then you will get only the interest received after maturity on the savings account.