RBL Bank FD Rates for Senior Citizens

RBL Bank FD scheme is the easiest way for anyone to invest the desired amount and earn interest. Senior citizens looking to invest in risk-free instruments can consider fixed deposits to grow their money.
The FD provides guaranteed returns as compound interest earned on the principal amount. RBL Bank FD rates for senior citizens are designed exclusively for senior citizen customers to help them earn a higher interest on their deposited amount.

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Compare FD Interest Rates of Top Financial Institutions
BANKS GENERAL CITIZENS SENIOR CITIZEN
Axis Bank FD Rates 2.50% - 5.75% 2.50% - 6.50%
Bandhan Bank FD Rates 3.00% - 5.00% 3.75% - 5.75%
Bank of Baroda FD Rates 2.80% - 5.25% 3.30% - 6.25%
Bank of India FD Rates 2.85% - 5.05% 3.35% - 5.55%
Canara Bank FD Rates 2.90% - 5.40% 2.90% - 5.90%
Central Bank of India FD Rates 2.75% - 5.00% 2.90% - 3.25%
DBS Bank FD Rates 2.50% - 5.50% 3.50% - 6.00%
HDFC Bank FD Rates 2.50% - 5.60% 3.00% - 6.35%
IDFC Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Indian Bank FD Rates 2.90% - 5.15% 3.40% - 5.65%
Indian Overseas Bank FD Rates 3.40% - 5.20% 3.90% - 5.70%
IndusInd Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Punjab National Bank FD Rates 2.90% - 5.25% 3.50% - 5.75%
SBI FD Rates 5.30% - 5.40% 5.80% - 6.20%
UCO Bank FD Rates 2.55% - 5.05% 3.80% - 6.30%
Yes Bank FD Rates 3.25% - 6.25% 3.75% - 7.25%
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RBL Bank FD Rates for Senior Citizens

RBL Bank FD interest rate table below provides various interest rates:

Fixed Deposit Tenure Senior Citizens Interest Rates up to deposits less than Rs. 3 crores
7 - 14 days 3.75
15 - 45 days 4.25
46 - 90 days 4.50
91 -180 days 5.00
181 - 240 days 5.50
241 - 364 days 5.90
1 year to < 2 years 6.60
2 years to < 3 years 6.60
3 years to < 5 years 6.80
5 years to 5 years 1 day 7.00
5 years 2 days to <10 years  6.50
10 - 20 years  6.50
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*Interest rates are subject to change.

Features of RBL Bank FD

There are various features of the RBL Bank FD for Senior citizens. Some of their characteristics are listed below:

  • Various interest payout options are provided by RBL Bank FD, like – Monthly, Quarterly, or Yearly basis.
  • There is no limit for the maximum deposit amount.
  • The RBL Bank FD rates for senior citizens are 0.50% higher than the interest rate provided for regular people.
  • The withdrawal can be made partially or prematurely.
  • The deposit can be made easily online with the help of internet banking.
  • RBL Bank offers good returns on their invested amount.
  • The senior citizen can use the nomination facility if they wish to for their FD amount.
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Benefits of RBL Bank FD

There are various benefits of the RBL Bank FD for senior citizens. Some of these benefits are discussed in brief below:

  • Tax Benefits: Tax Benefits are provided as per Income Tax Laws in India.
  • Death Benefits: Death Benefits are provided under RBL Bank FD upon the death of the depositor. Under death benefits, the nominee of a particular fixed deposit gets the interest payout after the unfortunate death of the depositor. The total amount will also be paid to the nominee after the policy tenure is over.
  • Flexible Payout Period: The interest payout is flexible, among which the customer can choose any one of the options that suit them best. 
  • Premature Withdrawal: Generally, in fixed deposits, the bank or the financial institution will not allow their depositors to close their Fixed Deposit prematurely or even withdraw a partial amount from the deposited amount. But, RBL Bank FD provides both partial and premature withdrawal of the deposited amount.
  • Investing Limit: Another benefit of RBL Bank FD is the investing limit. The customer can start investing as little as Rs 5000 to a maximum of no limit. 
  • Paperless Application: The application procedure is paperless, and the amount can be transferred from the bank savings account to the RBL bank digitally using internet banking. The complete process can be done online for free, and the process will be completely hassle-free, cost and time-efficient.

About RBL Bank Fixed Deposit Interest Rate Calculator

RBL Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

  • The amount that is invested

  • The Rate of Interest offered

  • The tenure of the Fixed Deposit Account

  • The compounding period, that is, yearly, half-yearly, quarterly, or monthly

  • The FD Amount

Once entered the following details, an investor will come to know:

  • The maturity value of the FD

  • The total interest earned during the complete tenure

FD interest have fallen consistently over the last 5 years.
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Eligibility for RBL Bank FD for Senior Citizens

The eligibility for availing of the benefits of RBL Bank FD rates for senior citizens are listed below:

  • Must be a senior citizen (above 60 or 65 years of age)
  • Must be a permanent resident of India
  • Must have an amount more than or equal to Rs 5000
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Documents needed for RBL Bank FD

The RBL Bank FD rates for senior citizens can be availed by providing the following few documents:

  • AADHAR card
  • Permanent Account Number (PAN) Card
  • Passport
  • Senior Citizen IDW
  • Ration Card

Factors that affect RBL Bank FD rates for Senior Citizens

The RBL Bank FD Rates for senior citizens are decided based on the following factors:

  • The principal amount is directly proportional to the rate of interest. 
  • A longer duration of the FD attracts higher interest rates.
  • The payout option for withdrawing the money also impacts the returns.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

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