What is the New Fixed Deposit Rule by RBI
Fixed Deposits are among the most popular investment tools, especially among traditional investors. This is due to the safe and guaranteed returns they offer to depositors. Government, private banks, and financial institutions have recently revised fixed deposit interest rates. This has made FDs once again one of the most sought-after investments. Although FDs have been around for a long time, much like all investment tools, they also evolve on a regular basis. This involves changes in rules and regulations that govern their operations. Such change has occurred recently when the Reserve Bank of India (RBI) made a significant change regarding the interest rate on FDs? This blog will discuss the same in detail. If you have a habit of not claiming the interest earned on your fixed deposits, then pay attention as you might end up earning a lower interest rate on your deposit. Yes, you read that right. The SBI, Yes Bank, HDFC Bank or ICICI Bank FD interest rates applicabl...