• RBL Bank Tax Saving FD

    The RBL Tax Saving Fixed Deposit Scheme offers deposits the opportunity to earn an attractive rate of interest on lump-sum amounts. The scheme comes with a lock-in period of 5 years.

    Interest Rates on RBL Tax Saving Fixed Deposit

    General depositors can get 6.40% p.a. as interest whereas senior citizens can get 6.90% p.a. You can deposit a minimum of Rs.100 and a maximum of Rs.1.5 lakh with this scheme. The lock-in period is 5 years before which you cannot withdraw funds from your FD account. Note that the interest rates are subject to change as per the discretion of the bank.

    Features and Benefits of RBL Tax Saving Fixed Deposit

    Amount
    • Minimum: Rs.100
    • Maximum: Rs.1.5 lakh
    Period 5 years
    Interest rate
    • 6.40% p.a. (for general citizens)
    • 6.90% p.a. (for senior citizens)

    On pre-mature withdrawal of the deposit, interest will be calculated at the rate applicable for the period for which deposit has actually remained with the bank or the contracted rate whichever is lower, subject to a penalty of 1%.

    RBL Tax Saving Fixed Deposit Interest Calculator

    It's recommended to calculate your RBL FD interest rate beforehand so that you know how much returns you will receive in the future. In order to do that, you can use any online fixed deposit calculator. The easy-to-use online tool lets you calculate the maturity amount in no time. All you need to do is enter the relevant details, including the deposit term, investment amount, and the rate of interest.

    How to Open an RBL Tax Saving Fixed Deposit Online

    • Step 1: Log in to RBL online banking using your username and password.
    • Step 2: Go to the home page, navigate to the top menu and click on ‘e-fixed deposit’.
    • Step 3: Now proceed to click on the ‘e-TDR/e-STDR under Income Tax Saving Scheme’ option and hit the ‘proceed’ button.
    • Step 4: Choose the account from which the amount should be debited, type in the FD amount and if you are a senior citizen click on the ‘Senior Citizen’ option.
    • Step 5: A confirmation message will be displayed on screen.

    Key Information Before Opening an RBL Tax Saving Fixed Deposit Scheme

    Eligibility to Open a Fixed Deposit
    • Individual
    • HUF
    Documents Required
    • RBL Application Form
    • Depositor’s photograph (2 copies)
    • Identity proof & Address proof as per KYC Norms
    • PAN Card copy/ Form 60 or 61
    • Aadhaar Card Details
    Benefits of a RBL Tax Saving Fixed Deposit
    • Nomination facility
    • Automatic renewal option after maturity
    • Online operation for the Fixed Deposit account

    FAQs on RBL Tax Saving Fixed Deposit Scheme

    1. Is a nomination facility available?

      Yes, nomination facility is available.

    2. What amount of TDS will be deductible?

      TDS will be applicable as per existing guidelines.

    3. What happens if I open a joint deposit?

      In the case of joint deposits, the tax benefit under 80C will be available only to the first holder of the deposit.

    4. What happens if I do not have my PAN details with me?

      In the absence of PAN details, the TDS will be at a higher rate (20%) and this will be applied on resident time deposits where interest income is above TDS threshold during the financial year.

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