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FD and RD interest rates

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Jyothsna (Querist)
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12 December 2019 Hello,
Will the rates of FD and RD change from time to time?

Gokul Sharma

Gokul Sharma (Expert)
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14 December 2019 YES IT CHANGES AS PER RBI GUIDELINES

Jyothsna (Querist)
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14 December 2019 Now suppose i took an FD on 1/06/2016 when the interest rates are 7% and after then RBI increased int rate to 8%,will this new rate be applicable or else i will get interest as per old rate(7%)?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 December 2019 7%,because revised rates applies prospectively.

Jyothsna (Querist)
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30 December 2019 Will the same applies to loans taken

Gokul Sharma

Gokul Sharma (Expert)
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30 December 2019 yes..................

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