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Interest Rate on Fixed Deposit

Dated:- 24-4-2015 - The rate of interest on fixed deposits by senior citizens given by nationalized banks differs from bank to bank. The Reserve Bank of India (RBI) has deregulated the interest rates on term deposits with effect from October 22, 1997. Accordingly, banks are now free to fix the interest rates on term deposits subject to the approval of their respective Boards. Further, banks have been permitted to formulate, with the approval of their Boards of Directors, fixed deposit schemes sp .....

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