RBL Bank offers the Recurring Deposit (RD) account at attractive interest rates. The tenure of the account ranges between 6 months and 20 years. You can apply for an RD account via net banking and mobile banking. The RD account comes with nomination facilities as well as easy payment options.
RBL Bank RD Interest Rates for deposits less than Rs.2 crore
| Tenure | General Public (%) p.a. | Senior Citizens (%) p.a. |
|---|---|---|
| 181 days to 240 days | 6.65 | 7.15 |
| 241 days to 364 days | 6.65 | 7.15 |
| 1 year but less than 2 years | 7.45 | 7.95 |
| 2 years but less than 3 years | 7.50 | 8.00 |
| 3 years but less than 5 years | 7.25 | 7.75 |
| 5 years but less than 10 years | 7.40 | 7.90 |
| 10 years but less than 20 years | 6.90 | 7.40 |
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 7.50% p.a. for investing in a tenure that ranges from 2 years to less than 3 years. The second highest returns of 8.0% 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 7.50% 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%.
Recurring Deposit
