RBL Bank Fixed Deposit

RBL Bank is a fast-growing private sector bank in the country. RBL Bank fixed deposits (FDS) offer the ‘best-in-class’ interest rates and a range of ‘exclusive’ benefits. Apart from this, there are many types of FD schemes that one can choose from such as regular fixed deposits, tax saving schemes, and flexi sure fixed deposits. Before applying for an RBL Bank FD, it is advisable to take a look at the interest rates offered across tenures.

Given below are the revised interest rates on all RBL Bank deposits for regular and senior citizens with effect from 18 June, 2018:

*Rates applicable for deposits that are less than Rs.1 crore

RBL Bank Highest FD Rates

• The highest FD rate paid by RBL Bank is 7.75% p.a. for regular deposit holders. This interest rate is paid for a tenure that is from 1 year to less than 2 years.
• For the same tenure mentioned above, the highest rate paid to senior citizens is 8.25% p.a.

RBL Bank Short-Term FD Rates

• RBL Bank is one among the banks that pay the best interest rates even on very short tenures.
• Interest can be earned in the range of 5.00% p.a. to 7.25% p.a. on such time deposit schemes.
• For any deposit that is opened for 46 days to less than 1 year, interest of 7.00% p.a. and more can be earned.
• For 46 days to 90 days, the bank gives deposits 7.00% p.a. and for 91 days to 240 days, the bank pays 7.15% p.a

RBL Bank Medium-Term FD Rates

• The highest rate of return can be fetched on RBL Bank medium-term deposits that are from 1 year to 5 years.
• The range at which interest is paid is from 7.25% p.a. to 7.75% p.a.
• Returns are given out at the rate of 7.75% p.a for any investment of less than Rs.1 core, made from 1 year to less than 2 years.
• For 2 years to less than 5 years, the bank will pay 7.50% p.a and for 5 years the rate is 7.25% p.a.
• Generally, for a 5-year tenure, the FD chosen is the tax saving plan that offers benefits of up to Rs.1.5 lakh as per norms laid out under Section 80C of the Income Tax Act.

RBL Bank Long-Term FD Rates

• RBL bank offers a good variety of long-term investment options when it comes to term deposits.
• People can choose to invest for 5 years to 20 years, which is the maximum tenure.
• The range of interest payment begins from 7.20% p.a. and goes up to 7.25% p.a.

RBL Bank Senior Citizen FD Rates

• Those who are aged 60 years and above will be considered senior citizens and have the right to avail the perk of extra interest for all domestic FDs.
• The additional interest paid will be at the rate of 0.50% p.a.
• The average annual percentage rate paid to senior citizens range from 5.50% p.a. To 8.25% p.a., which is the highest paid by the bank to this category of investors.
• A deposit holder will be able to fetch up to 8.00% p.a. for investing from 2 years to less than 5 years.
• The percentage return is 7.50% p.a. for 46 days to 90 days, 7.65% for 91 days to 240 days, and 7.75% for 241 days to 364 days.
• Senior citizens can choose a tenure that is from a minimum of 7 days to a maximum of 20 years.