RBL Bank offers a wide range of Fixed Deposit schemes that offer high-interest rate to regular individuals as well as senior citizens for a tenure ranging from 7 days to 20 years. Let us take a look at RBL Bank FD rates and various types of term deposit schemes provided by the bank.
RBL FD Rates 2020
|RBL Bank FD Rates (p.a.)|
|7 to 14 days||3.50%||4.00%|
|15 to 45 days||4.25%||4.75%|
|46 to 90 days||5.25%||5.75%|
|91 to 180 days||5.50%||6.00%|
|181 to 240 days||6.00%||6.50%|
|241 to 364 days||6.25%||6.75%|
|12 months to less than 24 months||6.85%||7.35%|
|24 months to less than 36 months||6.85%||7.35%|
|36 months to 36 months 1 day||7.15%||7.65%|
|36 months 2 days to less than 60 months||6.50%||7.00%|
|60 months to less than 120 months||6.50%||7.00%|
|120 months to 240 months||6.50%||7.00%|
|Tax Savings Fixed Deposit (60 months)||6.50%||7.00%|
Note: Interest rates w.e.f. 28th August 2020. Figures mentioned in the above table are subject to change without prior information. The above-mentioned rates are also applicable to NRE/NRO Fixed Deposits.
Types of RBL Fixed Deposits
1. RBL Bank Regular Fixed Deposit Scheme
RBL Bank Regular Fixed Deposit Scheme is the basic fixed deposit scheme available to investors. The scheme has the following features:
|Features & Benefits of RBL Bank Regular Fixed Deposit Scheme|
The following are eligible to open the account-
2. RBL Bank Tax Saving Fixed Deposit Scheme
This is another type of Fixed Deposit account with the sole purpose of tax savings, wherein the deposits are eligible for tax exemption according to the Income Tax Act, 1961 (Section 80C). The scheme has the following features:
|Features & Benefits of RBL Bank Tax Saving Fixed Deposit Scheme|
The following are eligible to open the account:
- Resident Individuals
3. RBL Bank Senior Citizen Scheme
This scheme is meant especially to provide fixed deposits for senior citizens. In order to open this fixed deposit account, the applicant must be over the age of 60 years. The main benefit of this scheme is that the depositors’ gets to enjoy an interest rate that is higher than those meant for other schemes. The scheme has the following features:
|Features & Benefits of RBL Bank Senior Citizen Fixed Deposit Scheme|
4. RBL Bank Flexi-Sure Fixed Deposit Scheme
This is a fixed deposit scheme that is linked with the customer’s savings or current account. The customer, therefore, enjoys better returns and also enjoys the facility of liquidity. A deficit that occurs in the account is taken care of by withdrawing the exact amount from the Flexi-Sure Fixed Deposit Account.
|Features & Benefits of RBL Bank Flexi-Sure Fixed Deposit Scheme|
RBL Bank Premature Withdrawal Facility
RBL Bank Premature Withdrawal Facility means that the depositor can withdraw the fixed deposit amount before maturity. Fixed Deposit is classified into two types:
- With the premature withdrawal facility
- Without premature withdrawal facility (For instance – Tax Saving FD that comes with a lock-in period of 5 years)
However, individuals who want to make premature withdrawals will be required to pay penalty for the same, which will be charged on the RBL Bank FD Rate.
RBL Bank FD Calculator
Investors can check the maturity amount of the scheme by using the RBL Bank FD Calculator at Paisabazaar. Also, RBL Bank FD interest rates are different for different tenures. FD calculator will help in deciding the right tenure option which can yield him/her with the maximum returns. Any individual can use an FD calculator by providing details like deposit amount, RBL Bank FD Rate and deposit tenure. Once all the information is entered, investors can check the interest and the maturity amount by using the FD calculator.
Moreover, using RBL Bank FD calculator, account holders can check and compare RBL Bank FD Interest Rates with other banks as well.
Documents Required for Opening RBL Fixed Deposit
For opening a RBL Bank Fixed Deposit account, the documents mentioned below have to be submitted by the customer to the bank. The documents should be original for verification and self-attested copies should be taken as well:
- Identity Proof (Any one) – Passport / Voter ID card / Driving License / PAN Card /Government ID Card / Ration Card / Senior citizen ID Card
- Address Proof (Any one) – Passport / Ration Card / Aadhar Card / Electricity or Telephone Bill / Rental Agreement / Certificate or ID Card issued by the Post Office
How to Apply for RBL Fixed Deposit Account?
Customers can open their RBL Bank Fixed Deposit account by visiting the nearest branch. Account-holders will be required to fill up the application form and submit the deposit amount to open a Fixed Deposit account. Customers can also open their fixed deposit account via internet banking also. For any further assistance, customers can call RBL Bank customer care number.
Frequently Asked Questions
Q. What is the minimum and maximum tenure of RBL Bank Fixed Deposit?
The minimum and maximum tenure of RBL Bank FD is 7 days and 20 years respectively.
Q. What are the various types of RBL Bank Fixed Deposit schemes?
There are four types of RBL Bank Fixed Deposit schemes and they are:
- RBL Bank Regular Fixed Deposit Scheme
- RBL Bank Tax Saving Fixed Deposit Scheme
- RBL Bank Senior Citizen Scheme
- RBL Bank Flexi-Sure Fixed Deposit Scheme
Q. Who all are eligible to open RBL Bank Regular Fixed Deposit scheme?
The following are eligible to open RBL Bank Fixed Deposit scheme :