RBL Bank Senior Citizen FD Rates 2025

What Is an RBL Senior Citizen FD?

RBL Senior Citizen FD is a fixed deposit scheme for people aged 60 and above. It offers higher interest rates to help seniors earn more from their savings. Investors can choose how often they receive interest: monthly, quarterly, or at maturity. These FDs can be booked online through RBL Bank’s internet banking or by visiting a branch.

See the latest RBL Bank FD rates to make a smart investment decision. Let’s explore the latest rates for senior citizens and the key features of RBL Bank FDs and understand how to open an RBL Senior Citizen FD.

Key Features of RBL Bank Senior Citizen FDs

RBL Bank FDs provide several senior-friendly benefits. Here are some of them in detail:

1. No Penalty on Early Withdrawal: 

   One of the most helpful features for senior citizens is the waiver of the premature withdrawal penalty. If the deposit is withdrawn before maturity, interest is paid based on the actual duration the money remained in the bank, with no 1% penalty.

2. Overdraft Facility: 

   Senior citizens can avail of liquidity through an overdraft of up to 90% of the FD amount, eliminating the need to prematurely withdraw their deposit in case of urgent cash needs.

3. Nomination Facility: 

   RBL Bank allows easy nomination for senior citizen FDs, helping ensure that your investment is seamlessly passed on to your chosen nominee in case of unforeseen events.

4. Booking Convenience: 

   Whether you’re comfortable with digital banking or prefer traditional methods, RBL Bank allows FD booking via mobile banking, internet banking, branch visits, or with the help of your Relationship Manager.

RBL Bank FD Interest Rates for Senior Citizens 

Here are the updated RBL Bank FD rates for senior citizens for deposits below ₹3 crores:

RBL Bank FD Rates for Senior Citizens (Deposits Below ₹3 Crores: Premature Withdrawal Allowed)

*RBL senior citizen FD rates w.e.f. June 16, 2025

*Senior citizen rates do not apply to NRE accounts/NRO accounts.

RBL Bank Senior Citizen FD Rates (Deposits Below ₹3 Crores: Premature Withdrawal Now Allowed)

If you opt for a deposit where early withdrawal is not permitted, the following interest rates are applicable:

*RBL senior citizen FD rates w.e.f. June 16, 2025

How to Open an RBL Senior Citizen Fixed Deposit

1. Online Method

   If you have access to RBL Bank's NetBanking or Mobile Banking:

   • Log in to your RBL MoBank app or Internet Banking account.
   • Navigate to the “Term Deposit” section and select “Senior Citizen FD.”
   • Select “Existing Customer” or “New Customer”.
   • Enter your Aadhaar-linked mobile number.
   • Complete your KYC process with digital sign-in and video KYC.
   • Enter bank details.
   • Enter the deposit amount and select the desired tenure and interest payout option.
   • Confirm your details and submit the request.

2. Offline Method

   If you want to open it at a branch:

   • Visit the nearest RBL Bank branch.
   • Fill out the FD application form and provide valid identity and age proof.
   • Deposit the amount via cash or cheque.
   • Collect the FD confirmation receipt from the bank.

Taxation on RBL Bank Senior Citizen FD Interest

As per the Income Tax Act, 1961, interest earned on RBL Bank senior citizen FD rates is taxable. It is necessary to pay Tax Deducted at Source (TDS) if the interest earned from fixed deposits in a financial year is more than ₹1,00,000. Senior citizens, on the other hand, can avoid TDS by submitting Form 15H to the bank if their monthly income is less than the tax limit.

Senior citizen depositors can also get deductions of up to ₹50,000 per year on the interest they earn on savings under Section 80TTB. A five-year Tax Saving FD from RBL Bank lets them get deductions under Section 80C of the Income Tax Act, but the interest earned on it is still taxed.

Key Takeaways

RBL Bank offers one of the best Fixed Deposit (FD) options for senior citizens in India. It provides FD interest rates of up to 7.80% per annum, making it a secure and rewarding way to grow retirement savings. The tenure is flexible, ranging from 7 days to 10 years. Senior citizens can choose a term that suits their financial goals. A key benefit is that there are no penalties for premature withdrawals. The FD also offers convenient payout options. FD Interest rates can be received monthly or annually. Booking is simple and can be done online or at a branch.