Suryoday Small Finance Bank is planning to increase the maximum period of FD to 20 years. According to the news of Hindu Business Line, those who make FD will also be given the option of systematic withdrawal plan in between.

FD scheme will work like an annuity plan

If this happens, the bank’s FD plan will work like the annuity plan offered by insurance companies. But it will be for a limited period. The MD and CEO of Suryoday SFB (Suryoday Small Finance Bank) said that they are soon going to launch FDs with a tenure of more than 10 years. This will be a good option for people who want to save money for a long time, which will give them the benefit of compounding interest.

Also Read: Good news for pensioners, Central Government is going to introduce new facility on 30th August

In this situation, you will get Rs 1 lakh every month.

However, the bank is still working on this plan and the interest rate risk is being calculated. He gave an example that if someone saves Rs 50,000 every month for 10-11 years, then later he can withdraw about Rs 1 lakh every month. Experts said that the interest rate on FD can be decided according to the government’s 10-year bond.

Right now only SBI offers such a scheme. In this scheme, you deposit money at once and then every month you get some money and interest. Suryodaya SFB’s scheme will be slightly different from SBI’s scheme. In this, you will have to deposit money every month for the first few years. Later you will get money every month. This scheme will be opposite to SBI’s scheme.

Related Articles:-

What are the pension rules for private employees, how many years of service is required?

New Rules From September: Cylinder will become expensive, mobile users will be affected, update Aadhaar immediately

Good news for pensioners, Central Government is going to introduce new facility on 30th August

The post New FD Rules: Depositors may able to open fixed deposit FD for 20 years first appeared on Rightsofemployees.com.

If you also make fixed deposits, then know that RBI has made a big change in FD rules. The new rules of FD by RBI have also become effective. On one hand, after increasing the repo rate of RBI, many government and non-government banks have also increased the interest rates on FDs. Therefore, if you are also going to get FD done, or have got it done, then definitely read this news before that. Otherwise you may have to bear the loss.

Change in maturity rule of FD

RBI has changed the rules of Fixed Deposit (FD), now if you do not claim the amount after completion of maturity, then you will get less interest on it.
– The interest you get will be equal to the interest you get on the savings account.
Currently, banks usually pay more than 5% interest on FDs with a long tenure of 5 to 10 years.
At the same time, the interest rates on savings account are around 3% to 4%.

RBI ordered

According to RBI, . The new rule will apply to deposits in all commercial banks, small finance banks, cooperative banks, local regional banks. If the Fixed Deposit matures and the amount remains unpaid or unclaimed, the interest rate applicable to the savings account or the interest rate prescribed for matured FDs, whichever is less, will be given

Know what the rules say?

For example, understand that if you have got an FD with a maturity of 5 years, which has matured today, but you are not withdrawing this money, then there will be two situations.

1. If the interest received on FD is less than the interest received on the savings account of that bank, then you will continue to get FD interest only.

2. If the interest received on FD is more than the interest received on the savings account, then you will get the interest received on the savings account after maturity.

What were the rules earlier?

Now if we talk about the earlier rule, earlier when your FD was matured and if you did not withdraw its money or did not claim it, then the bank used to extend your FD for the same period for which you had earlier FD It was But now it is not so. Now if you do not withdraw money on maturity, you will not get FD interest on it, so it is better that you withdraw money immediately after maturity. This new rule has become effective.

The post FD Maturity Rules Change: Big news! RBI has changed the rules of FD again, know otherwise there will be a big loss! first appeared on Rightsofemployees.com.

If you also make fixed deposits, then know that RBI has made a big change in FD rules. The new rules of FD by RBI have also become effective. On one hand, after increasing the repo rate of RBI, many government and non-government banks have also increased the interest rates on FDs. Therefore, if you are also going to get FD done, or have got it done, then definitely read this news before that. Otherwise you may have to bear the loss.

Change in maturity rule of FD

RBI has changed the rules of Fixed Deposit (FD), now if you do not claim the amount after completion of maturity, then you will get less interest on it.
– The interest you get will be equal to the interest you get on the savings account.
Currently, banks usually pay more than 5% interest on FDs with a long tenure of 5 to 10 years.
At the same time, the interest rates on savings account are around 3% to 4%.

RBI ordered

According to RBI, . The new rule will apply to deposits in all commercial banks, small finance banks, cooperative banks, local regional banks. If the Fixed Deposit matures and the amount remains unpaid or unclaimed, the interest rate applicable to the savings account or the interest rate prescribed for matured FDs, whichever is less, will be given

Know what the rules say?

For example, understand that if you have got an FD with a maturity of 5 years, which has matured today, but you are not withdrawing this money, then there will be two situations.

1. If the interest received on FD is less than the interest received on the savings account of that bank, then you will continue to get FD interest only.

2. If the interest received on FD is more than the interest received on the savings account, then you will get the interest received on the savings account after maturity.

What were the rules earlier?

Now if we talk about the earlier rule, earlier when your FD was matured and if you did not withdraw its money or did not claim it, then the bank used to extend your FD for the same period for which you had earlier FD It was But now it is not so. Now if you do not withdraw money on maturity, you will not get FD interest on it, so it is better that you withdraw money immediately after maturity. This new rule has become effective.

The post RBI Change FD Maturity Rules: Big News! RBI has changed the rules of FD again, know otherwise there will be a big loss! first appeared on Rightsofemployees.com.

If you have also got FD in the bank or have a plan to get fixed deposit, then big information has been given by RBI. The Reserve Bank has made a big change in the FD rules (RBI FD rules). The new rules have also become effective. So before depositing your money, take information about the new rules of RBI, so that you do not have to suffer loss in any way.

RBI has given information that after the increase in the prices of repo rates by the Reserve Bank, banks have also started increasing the interest rates of FDs. RBI has changed the rules of FD after this.

Know what is the new rule?

Let us tell you that the Reserve Bank has told that from now on if you do not claim your amount even after completion of maturity, then you will get less interest on it i.e. you will be at a loss. Explain that this interest will be equal to the interest received on the savings account.

The Reserve Bank told why the rules have changed , according to the information received from the Reserve Bank of India, if your FD has matured and no further payment is required, then the interest on it will be the same as that of the savings account. Will get or fixed interest on FD, according to which of these two is less, you will get the benefit of interest.

Let us tell you that these rules apply to all banks, these new rules will apply to deposits in all commercial banks, small finance banks, cooperative banks, local regional banks.

Understand by example, for example, if you have made an FD with a period of 5 years, which has matured today, but you do not withdraw this money today, then the interest on your FD and the interest being paid on the savings account will be different. Whichever amount is less out of the two, you will get the benefit of interest accordingly.

What were the rules now?

Let us tell you that before this, if you do not claim after the FD matures, then after that the bank used to extend your FD for the same period for which you had made the deposit, but now it will not happen. That’s why you withdraw your money immediately after maturity.

The post Bank FD Rules: Big update for crores of people getting FD, RBI changed the rules, know what will happen now? first appeared on Rightsofemployees.com.

Changed rules on maturity of FD

Actually, RBI has made a big change in the rules of Fixed Deposit (FD) that now after the completion of maturity, if you do not claim the amount, then you will get less interest on it. This interest will be equal to the interest received on the savings account. Currently, banks usually offer more than 5% interest on FDs with a longer tenure of 5 to 10 years. Whereas the interest rates on savings account are around 3 percent to 4 percent.

RBI issued this order

According to the information given by RBI, if the fixed deposit matures and the amount is not paid or claimed, then the interest rate on it as per the savings account or the rate of interest fixed on the matured FD, Whichever is less will be given. These new rules will be applicable on deposits in all commercial banks, small finance banks, cooperative banks, local regional banks.

Know what the rules say

Understand this in such a way that, suppose you have got an FD with 5 years maturity, which has matured today, but you are not withdrawing this money, then there will be two situations on this. If the interest being received on FD is less than the interest being received on the savings account of that bank, then you will continue to get the interest with FD. If the interest earned on FD is more than the interest earned on the savings account, then you will get the interest on the savings account after maturity.

What was the Old Testament?

Earlier, when your FD matured and if you did not withdraw or claim it, then the bank used to extend your FD for the same period for which you had made the FD earlier. But now it will not happen. But now if the money is not withdrawn on maturity, then FD interest will not be available on it. So it would be better if you withdraw money immediately after maturity.

The post FD Rules: RBI changed the big rules of FD, know otherwise there may be a big loss first appeared on Rightsofemployees.com.