3.5% INTEREST ON UNCLAIMED FDs, INOPERATIVE ACCOUNTS
Bank customers who do not operate their accounts regularly will continue to earn interest rate
of 3.5% on savings bank accounts and on fixed deposits after the maturity period. “Interest on savings bank account should be credited on regular basis whether the accounts is operative or not. If
a fixed deposit matures and proceeds are unpaid, the amount left unclaimed with the bank will attract savings bank rate of interest. Currently, banks pay interest rate of 3.5% on savings bank deposits. RBI has also barred banks from charging any fee of activation of inoperative accounts.
of 3.5% on savings bank accounts and on fixed deposits after the maturity period. “Interest on savings bank account should be credited on regular basis whether the accounts is operative or not. If
a fixed deposit matures and proceeds are unpaid, the amount left unclaimed with the bank will attract savings bank rate of interest. Currently, banks pay interest rate of 3.5% on savings bank deposits. RBI has also barred banks from charging any fee of activation of inoperative accounts.
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