• Royal Bank of Scotland Fixed Deposit Rates

    The Royal Bank of Scotland (RBS) is a premier international banking entity that has a branch in Mumbai, India. They have a worldwide customer base, namely, in the UK, western Europe, Hong Kong, Japan and Singapore. Royal Bank of Scotland (RBS) fixed deposits (FDs) are top class investment options for those looking out for term deposit schemes. The bank offers both domestic deposits and time deposit schemes for Non-Resident Indians. It is important to note here that unlike other banks, this bank does not offer medium or long term deposits. There are only a wide range of short-term FD plans that an investor can choose from.

    Given below are the revised interest rates offered on Royal Bank of Scotland fixed deposits in 2018 for regular depositors and senior citizens:

    Tenure Regular interest rate (per annum) Senior citizen interest rate (per annum)
    7 days to 14 days 3.50% 3.75%
    15 days to 30 days 3.50% 3.75%
    31 days to 60 days 3.50% 3.75%
    61 days to 90 days 3.50% 3.75%

    *Mentioned above are rates for investments that are up to Rs.1 crore in Indian rupee

    Royal Bank of Scotland (RBS) FD interest Rates

    • The tenure range that is available is from a minimum of 7 days to a maximum of 90 days.
    • In the above investment duration slot, the rate of return that can be gained on all tenures is fixed at 3.50% p.a.
    • The various in tenure slots can be chosen as represented in the table above.

    Royal Bank of Scotland (RBS) Senior Citizen FD interest Rates

    • The bank also offers deposit plans for those who are aged 60 years and above.
    • Senior citizens will be able to earn an additional 0.25% p.a. on all the term deposit investments that they make with the bank.
    • The rate of interest paid across tenures on this category of FDs is 3.75% p.a.

    Royal Bank of Scotland Non-Domestic or NRI Deposit Schemes

    Apart from domestic term deposits, the bank also offers a wide range of fixed deposit investment options for Non-Resident Indians (NRIs). The various deposits that are offered include NRO, NRE, RFC and FCNR.

    1. Non-Resident Ordinary (NRO) FDs: The interest rate paid on this FD scheme is the same as that on domestic deposits. However, there will be no additional benefit on interest rate offered to senior citizens. This is a rupee account and all investments will be maintained in the home currency only.
    2. Non-Resident External (NRE) FDs: The interest earnings on these type of fixed schemes are generally exempt from tax in India. While the minimum investment tenure is 1 year, for which the bank will pay at the rate of 3.50% p.a.
    3. Foreign Currency Non-Repatriable (FCNR): For FCNR accounts, deposits can be made in all of the major currencies in the world. The interest rate offered varies from currency to currency.
    4. Resident Foreign Currency (RFC) account: This is an ideal investment option for NRIs who have returned to their home country.

    The following are the interest rates offered on Royal Bank of Scotland NRI deposits:

    RBS - NRE deposit rates

    Tenure Regular rate Senior citizen rate
    365 days 3.50% Not Applicable

    RBS - FCNR deposit rates

    Currency/ Tenure 5 years 4 years but less than 5 years 3 years but less than 4 years 2 years but less than 3 years 1 years to less than 2 years
    USD 0.01 0.01 0.01 0.01 0.01
    GBP 0.01 0.01 0.01 0.01 0.01
    EURO 0.01 0.01 0.01 0.01 0.01
    CAD 0.01 0.01 0.01 0.01 0.01
    AUD 0.01 0.01 0.01 0.01 0.01

    RBS - RFC Rates

    Tenure EUR GBP USD
    3 years 0.01% 0.01% 0.01%
    2 years to below 3 years 0.01% 0.01% 0.01%
    1 year to below 2 years 0.01% 0.01% 0.01%
    6 months to below 1 year 0.01% 0.01% 0.01%
    31 days to below 6 months 0.01% 0.01% 0.01%

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