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RBL Bank Recurring Deposit Interest Rates 2021

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 7.20 7.70
2 years but less than 3 years 7.25 7.75
3 years to 3 years 1 day 7.50 8.00
3 years 2 days to less than 5 years 7.00 7.50
5 years but less than 10 years 7.15 7.65
10 years but less than 20 years 6.65 7.15

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

RBL Bank RD Interest Rates

The bank offers general citizens interest of 7.50% p.a. for investing in a tenure that ranges from 3 years to 3 years 1 day. The second highest returns of 7.25% p.a. are offered for investing in the tenure that ranges from 2 years to less than 3 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 8.00% p.a. for investing in a tenure from 3 years to 3 years 1 day.

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%.

RBL Bank Recurring Deposit FAQs

  1. Is TDS applicable on an RD account?

    Yes, TDS will be applicable as per the income tax regulations.

  2. Is it possible to book an RD account online?

    Yes, you can book an RD account online.

  3. What are the different ways by which I can book an RD account online?

    The different ways by which you can book an RD account online are mentioned below:

    • Mobile banking
    • Net banking
  4. What is the maximum tenure of an RD account booked online?

    In case you have applied for an RD account online, the maximum tenure is 10 years.

  5. Can I add nominees to the account?

    Yes, you can add nominees to the account.

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