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RBL Bank Recurring Deposit Interest Rates

 4.5 / 5.0   by 2 users
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Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

A Recurring deposit account with RBL Bank can be opened without any hassle. The bank offers you a variety of options when it comes to deposit tenures. The rate of interest offered on the deposit tenures are also attractive. General public are offered interest in the range of 7.05 to 8% p.a. for opening an RD account with the bank. Senior citizens are offered up to 8.50% p.a. for doing so.

A recurring deposit with RBL Bank can be opened for a minimum tenure of 6 months. The maximum tenure is 20 years. The tenures and interest rates offered by RBL bank when it comes to recurring deposits are listed in the table below:

Deposit Tenure Interest rate for General Public (p.a.) Interest rate for Senior Citizens (p.a.)
181 days to 240 days 7.05% 7.55%
241 days to less than a year 7.25% 7.75%
1 year to less than 2 years 7.90% 8.40%
2 years to less than 3 years 8% 8.50%
3 years to less than 5 years 7.60% 8.10%
5 years to less than 10 years 7.60% 8.10%
10 years to 20 years 7.20% 7.70%

Note: The interest mentioned above are for deposits less than Rs.2 crore

RBL Bank RD Interest Rates

The bank offer general citizens interest of 8% p.a. for investing in a tenure that ranges from 2 years to less than 3 years. The second highest returns of 7.90% p.a. are offered for investing in the tenure that ranges from 1 year to less than 2 years.

Interest Rates for Senior Citizens

Individuals who are above the age of 60 years are eligible to avail an additional interest of 0.50% p.a. on all RD tenures. They are offered the highest interest of 8.50% p.a. for investing in a tenure that is between 2 years and less than 3 years.

Taxation on Interest Rates

TDS is deducted as per the Income Tax regulations. However, if the interest earned from the deposit during the financial year is more than Rs.10,000 and the PAN details are not provided, TDS will be deducted at a high rate of 20%.

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RBL Bank RD Rates Reviews

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  • review Recurring Deposit
    "Very Good Service"
    RATNAKAR BANK
    0.5 4.0/5 "Great!"
    I had started this investment plan almost four to five months back and it is highly recommended to others. I had making the investments on a monthly basis and the interest rate which they are offering is very good when compared with the other banks. Their customer support team and their staffs had been helpful at all times as well.
    Was this review helpful? 2
    , mumbai
    Reviewed on Feb 25, 2019
  • review
    review Recurring Deposit
    "Good"
    RATNAKAR BANK
    0.5 5.0/5 "Blown Away!"
    I am holding two recurring deposits from Ratnakar Bank. The best part about this deposit is they give more interest when compared to other banks. It is also easy to maintain the deposits and also to open the recurring deposits through online net banking is very easy.
    Was this review helpful? 7
    , sangli
    Reviewed on Jun 12, 2015
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