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    Jul 3, 2011

    ALL ABOUT INTEREST RATES ON RUPEES DEPOSIT IN BANKS

    Reserve Bank of India has issued a master circular about the interest rates on all types of deposit by the banks. In this circular RBI has classified all types of investment in the banks and maximum rate of interest on these deposit. In this master circular includes.

    Rate of interest on saving account
    Rate of interest on current account
    Interest Payable on term deposits.
    Additional Interest Payable
    Payment of interest of term deposit maturing on non banking day
    Premature withdrawal of term deposit
    FDR,RD
    Payment of interest on frozen accounts
    Loan against fdr
    Rounding off the transactions.
    Dormat accounts etc.
    For example RBI said that rate of interest on saving account would be maximum of 4% p.a. whereas rate of interest on current account would be maximum of 0.5%.
    Full master circular is as under
    All about interest rates in india

    Tags-rate of interest on saving account,rate of interest on current account,interest rate on fixed deposit,interest rate on term deposit,interest rate on recurring deposit,interest rate on premature withdrawl of fdr

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