As all of us know there has been hike in the interest rates & deposit rates by various banks recently. Increased interest rates are applicable to all borrowers i.e. those who have availed the loan & those who will avail it after the increase. However, my question is : Is the increase in deposit rates applicable to existing Fixed Deposit holders or not? In other words, do existing FD holders continue to receive interest mentioned in their FDR or at the increased rate?
Menu
Hike in Interest Rates & Deposit Rates
Replies (4)
existing FD holders wud continue to receive the same interst rate.
The new interest rates wud be applicable at the time of renewal.
Shikha Nair
Thanks for the reply
In the case of FD the rate of interest is fixed, (not flexible as in case of home loans , etc under flexible plan). Hence the increase or decrease in rate of int does not affect the existing FD.
Thanks
CA Rajesh S
for the reply.
Recent Topics :
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
Related Topics :
CAclubindia
