Banking · Unclaimed Deposits

As per RBI guidelines, if a term deposit matures and proceeds remain unclaimed with the bank, what rate of interest is payable on the deposit amount after maturity?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Zero interest is payable after maturity.
2Savings bank rate or contracted rate of interest on the matured term deposit, whichever is lower.✓
3Repo rate prevailing on the date of maturity.
4Contracted rate of interest of the matured term deposit.

Correct answer

Savings bank rate or contracted rate of interest on the matured term deposit, whichever is lower.

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