RBL Bank FD Rates

A fixed deposit account is every Indian’s most preferred way of investment. The interest rate on fixed deposit account varies from bank to bank. The minimum amount required to open a fixed deposit account is also different in each bank. You can check RBL Bank FD rates online.

Like most Indian banks, the RBL FD interest rates are attractive. However, the interest rate that is offered by these banks including the RBL FD rates depends on certain conditions.

Features of Rbl Bank Fixed Deposit

Investment Amount  Minimum - Rs.1000 Maximum- No Maximum Limit
Tenure  Minimum - 7 daysMaximum- 20 Years
Interest Rate  Minimum - 5.00 %Maximum- 6.65%

Rbl Bank Fixed Deposit Rates 2020

Rbl Bank FD Rates in India
Tenure General Public FD Rates Senior Citizen FD Rates
7 days to 14 days 5.00% 5.50%
15 days to 45 days 5.50% 6.00%
46 days to 90 days 6.15% 6.65%
91 days to 180 days 6.40% 6.90%
181 days to 240 days 6.65% 7.15%
241 days to 364 days 6.65% 7.15%
1 year to 1 year 364 days 7.20% 7.70%
2 years to 2 years 364 days 7.25% 7.75%
3 years 7.50% 8.00%
3 years 1 day 7.50% 8.00%
3 years 2 days to 4 years 364 days 7.00% 7.50%
5 years to 9 years 364 days 7.15% 7.65%
10 years to 20 years 6.65% 7.15%

Comparison of FD Rates by Top 10 Financial Institutes

Name Interest Rates Tenure  
Axis Bank 5.75% 5 years to 10 years View Details
Bank of Baroda 5.30% 5 years 1 day to 10 years View Details
Bank of India 5.40% 5 years to 10 years View Details
Canara Bank 5.45% 3 years to 10 years View Details
Central Bank of India 5.35% 5 years to 10 years View Details
HDFC Bank 5.50% 5 years 1 day to 10 years View Details
ICICI Bank 5.50% 5 years 1 day to 10 years View Details
IDBI Bank 5.70% 7 years 1 day to 10 years View Details
State Bank Of India 5.40% 5 years to 10 years View Details
Yes Bank 7.00% 1 year to 10 years View Details

RBL Bank FD Rates - Special Features

  • The tenure of RBL Bank fixed deposits ranges from seven days to 20 years.
  • The bank offers investment options with good returns.
  • The option of interest pay-out is available quarterly, monthly, or you can choose to keep your amount invested till maturity.
  • The bank provides the convenience of booking through online or internet banking for the account holders of the bank.
  • The facility of nomination is available.
  • The facility of overdraft/loan is provided up to 90% of the amount available for fixed deposit.
  • Premature or partial withdrawal of FD is offered.

Types of RBL Bank Fixed Deposits

The types of fixed deposits offered by RBL Bank are:

Regular Fixed Deposits:

  • This is a fixed deposit scheme of RBL Bank is offered for the people who have a regular fixed income.
  • This scheme offers attractive RBL Bank FD rates and has easy investment options.
  • The facility of nomination is available.
  • You can book this scheme online through net banking if you have an RBL Bank account.
  • The facility of overdraft against the fixed deposits.
  • The facility of loan up to 90% of the deposited amount.

Eligibility:

All the Indian residents, Hindu Undivided Families, public and private companies, partnership firms, and trusts.

Senior Citizen Fixed Deposits:

  • A fixed deposit scheme for senior citizens to facilitate maximum RBL Bank FD rates.
  • The facility of nomination is provided.
  • Easy investment process.
  • The bank offers the flexibility to select the frequency of interest payment.
  • Offers the convenience of booking FD through net banking, if the depositor is an RBL Bank account holder.

Eligibility:

Resident Indians who are more than 60 years old.

RBL Bank Tax Saving Fixed Deposits:

  • A secure and flexible fixed deposit scheme that provides dual benefits of attractive returns and tax exemption under section 80C.
  • The facility of nomination is provided.
  • The interest that you earn from this scheme is subject to TDS.
  • You can earn attractive RBL Bank FD rates on your fixed deposit.
  • In the case of a joint fixed deposit, the benefit of tax u/s 80C is available only for the first account holder.
  • Flexibility to choose the frequency of interest payment.

Eligibility:

Hindu Undivided Family and resident Indians.

Flexi Sure Fixed Deposits:

  • It is a fixed deposit scheme that is linked with your current or savings account with ensured liquidity. Whenever you have a shortage in your savings or current account, this FD can be broken partially for meeting the shortfall in your cash whereas the remaining part keeps earning interest.
  • Option to choose the tenure of the deposit.
  • Offers convenience to link multiple deposits in your fixed deposit account.

Eligibility:

Public or private limited companies, Resident Indians, trusts, Hindu Undivided Families, and partnership companies.

RBL Bank FD Calculator

The FD calculator offers an estimate of how much one will earn from his/her fixed deposit upon its maturity. You can use the calculator of RBL Bank online and fill in some of the details like fixed deposit type, tenure, amount of deposit, and date.

RBL Bank FD Premature Withdrawal

According to the terms and conditions of the RBL Bank, the penalty on premature withdrawal of the FD of RBL Bank is along with the lower rate of interest of 1% than the actual rate of the contract. Upon premature withdrawals of the deposit, the interest is calculated at the RBL Bank FD rates applicable for the tenure for which the FD has kept in the bank.

Factors Affecting RBL Bank FD Rates

In a given financial year, the state of the economy determines the return rates of various banks in the country. When economic growth is high in a particular year, the credit demand increases. In such a case, the banks make FD interest rates attractive. FD interest rates in RBL also depend on the economic conditions.

Inflation

Inflation is when the cost of goods increases. During inflation, there is a possibility of rupee devaluation.  This is most commonly caused due to a lower percentage of purchasing power. This leads to a loss of interest in the loans that are lent. To nullify this, banks increase the interest rate on fixed deposits.

Thus, the interest rates on fixed deposits across all banks including fixed deposit rates in RBL depend on various economic factors.

The RBL Bank offers competitive interest rates on fixed deposits. The customer can choose from the selection of tenures that include short-term and medium-term.  The fixed returns and the safety of the investment make RBL fixed deposits a beneficial choice of investment.

RBL Bank FD Interest Rates in India

It is advisable to reconfirm the FD Rates from the bank before making any decision based on the data provided below.

Tax Saver FD (Max Deposit - 1 LPA)

MATURITY PERIOD

DEPOSIT AMOUNT

INTEREST RATE (p.a.)

General

Senior Citizen

Ratnakar Tax Savings Term Deposit Scheme - 60 months

Up to Rs. 1 lakh

6.50%

7.00%

Tax Implications

  • The amount invested in Fixed Deposit with tenure of 5 years with RBL Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
  • The applicable tax will be deducted at the source, i.e. RBL Bank, in case the annual interest earned crosses Rs. 10,000.

 *Tax benefit is subject to changes in tax laws

RBL Bank FD Rates - FAQs

Written By: PolicyBazaar - Updated: 03 November 2020
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