We demonstrate a double optical frequency reference (1529 nm and 1560 nm) for the telecom C-band using $^{87}$Rb modulation transfer spectroscopy. The two reference frequencies are defined by the 5S$_{1/2} F=2 rightarrow $ 5P$_{3/2} F=3$ two-level and 5S$_{1/2} F=2 rightarrow $ 5P$_{3/2} F=3 rightarrow $ 4D$_{5/2} F=4$ ladder transitions. We examine the sensitivity of the frequency stabilization to probe power and magnetic field fluctuations, calculate its frequency shift due to residual amplitude modulation, and estimate its shift due to gas collisions. The short-term Allan deviation was estimated from the error signal slope for the two transitions. Our scheme provides a simple and high performing system for references at these important wavelengths. We estimate an absolute accuracy of $sim$ 1 kHz is realistic.