Non renewed Fixed Deposits to attract less interest – RBI Directions
RBI has revised its Instruction with respect to where a Fixed / Term Deposit matures and remains unpaid/unclaimed
As per the existing instruction, if a Term Deposit matures and proceeds are unpaid, the amount of left unclaimed with the bank shall attract rate of interest as applicable to savings deposits.
However, as per RBI revised instructions, if a Term Deposit (TD) matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract rate of interest as applicable to savings account or the contracted rate of interest on the matured Term Deposit, whichever is lower.
Also Read: Comparison Chart for Bank Fixed Deposit Interest rates Click Here >>
RBI specifies ‘Related Party’ with respect to bank RBI has issued RBI Credit Risk Management Directions, 2025 defining ‘Related Party’…
Advisory on Filing Opt-In Declaration for Specified Premises, 2025 Dear Taxpayers, The relevant declarations issued vide Notification No. 05/2025 –…
FAQs for HSNS Cess Act, 2025 and HSNS Cess Rules, 2026 Q1. Who is required to get registered under the…
Refusing to condone delay can result in a meritorious matter thrown out at very threshold against case being decided on…
When prior period expenses are not admissible as deduction, following the same principle the prior period income also cannot be…
Supreme Court condoned delay of 972 days in filing appeal due to restructuring in Income Tax Department In a recent…