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    Overview of Royal Bank of Scotland Fixed Deposit

    About Royal Bank of Scotland

    Royal Bank of Scotland Group is a huge international banking and services company that was founded in 1727. With its headquarters in Edinburgh, Scotland, Royal Bank of Scotland Group has brands that operate all over the globe with the aim of providing banking services for businesses, institutions as well as individuals.

    Royal Bank of Scotland, established in 1921, is one of Royal Bank of Scotland Groups retail banking subsidiary. Royal Bank of Scotland Group acquired ABN AMRO Bank in India to become a part of it in 2008.

    With its expertly trained local team of industry professionals and its extensive global reach, Royal Bank of Scotland is known for being the leader in most of the coveted and ingenious monumental business dealings in India for both institutional and corporate clients. The Indian government, high net worth individuals, leading multinational corporations, blue-chip Indian corporations, large financial institutions, etc. are the clients that Royal Bank of Scotland deals with frequently.

    Royal Bank of Scotland has been enabling institutions and corporations in India to achieve their goals of transactions services, risk management objectives and global financing with their vision of innovation, strength and performance.

    About The Royal Bank of Scotland Fixed Deposits

    The Royal Bank of Scotland N.V. Easy Draw Fixed Deposit is a quick and simple solution to all your investment issues. It provides depositors the flexibility of breaking a section of the fixed deposit prematurely without causing any effect to the interest being accrued on the rest.

    This lets depositors earn interest on a fixed deposit account while also allowing the account holder to have the liquidity of a savings account, thus, allowing The Royal Bank of Scotland fixed deposit account holder to attend to any cash emergency while also earning interest on the rest of the amount left behind post the cash emergency. The Royal Bank of Scotland is one of the few banks in India offering its customers with this option of continued liquidity.

    Features of Easy Draw Fixed Deposit Account

    Following are the top features of the Easy Draw Fixed Deposit account with The Royal Bank of Scotland-

    • Offers attractive returns
    • Offers continued liquidity of a savings account
    • Assuredly safe returns investment
    • Assuredly high returns on investment
    • Free E-statements making accessing and reviewing deposits easy
    • Online booking and closing of fixed deposit account
    • Utility payments made easier with net banking facilities
    • Guaranteed national access with branches and ATMs all across India

    Rates of Interest on the Fixed Deposit Account with The Royal Bank of Scotland

    The Royal Bank of Scotland presents fixed deposits with the most attractive rates of interest. It offers its various customer categories with interest rates that suit their preferences perfectly.

    For domestic deposits within ₹ 1 crore, The Royal Bank of Scotland applies a rate of interest in the range of 3.00% to 8.00% for deposits of durations of 7 days to 364 days and 3.00% to 7.75% for deposits of 1 to 5 years.

    For NRE fixed deposit accounts, a rate of interest of 7.75% is offered for tenures of 1 year to 5 years of amounts less than ?1 crore. For NRO fixed deposit accounts, a rate of interest of 7.75% is offered for tenures between 7 days to 5 years of amounts less than ?1 crore.

    Minimum and Maximum Tenure for Fixed Deposit Account with The Royal Bank of Scotland

    The minimum duration that a fixed deposit account can be opened with The Royal Bank of Scotland is 15 days. The maximum duration for a fixed deposit account with The Royal Bank of Scotland is 5 years.

    Pay-out Options Available under the Easy Draw Fixed Deposit Account

    The pay-out options available under the Easy Draw Fixed Deposit Account are-

    • Either the depositor can receive the interest accrued on the fixed deposit every quarter
    • Or the depositor can choose to reinvest the interest accrued on the fixed deposit every 3 months in order to earn maximum returns on the investment

    Cheque Books and Debit Cards Issued Against Easy Draw Fixed Deposit Accounts

    Under the Royal Bank of Scotland N.V.s Easy Draw Fixed Deposit account, cheque books and debit cards are issued to all of its depositors which are linked to their savings accounts. With the aid of the cheque books and debit cards, the depositors can withdraw funds from their fixed deposit accounts.

    Additionally, with the debit cards issued under the Easy Draw Fixed Deposit account, depositors can also make purchases across 200,000 shopping outlets across the nation and 23 million outlets globally.

    Senior Citizen Benefits with Easy Draw Fixed Deposit Accounts

    Senior citizens are offered an additional 0.25% on the standard interest rates under the fixed deposit account with The Royal Bank of Scotland.

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    Royal Bank of Scotland Fixed Deposit Reviews

    • Royal Bank of Scotland Fixed Deposit
      "Good one"
      0.5 4.0/5 "Great!"
      I am very much happy with the interest rate offered by RBS for the FD when compared with others they are very good. However when we try to foreclose the FD they will take about 3 days of time to foreclose it. When it comes to the charges there is no charges for that. For the normal liquidation they would take about 24 hours of time for the funds to get transferred.,
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 02, 2015
    • Royal Bank of Scotland Fixed Deposit
      "More number of branches would be helpful"
      0.5 5.0/5 "Blown Away!"
      AS I had my salary account previously, I did open fixed deposit account on line with Royal bank of Scotland. ON line banking is easier and very faster in terms of deposit and not much interaction with customer service team. Interest rate offered is quite comparative offered. In terms of presence of branches, it would be helpful if they could increase.
      Was this review helpful? 0
      , delhi
      Reviewed on Nov 04, 2014
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