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FD and RD interest rates

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

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

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Jyothsna (Querist)
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%)?



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Bhaskaran Chackrapani Warrier

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

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

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

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