|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|7 days - 14 days||3.25%||3.75%|
|15 days - 1 month 14 days||3.75%||4.25%|
|1 month 15 days - 3 months||4%||4.5%|
|3 months 1 day - 5 months 29 days||4.5%||5%|
|6 months - 7 months 28 days||5%||5.5%|
|7 months 29 days - 11 months 30 days||5.85%||6.35%|
|1 year - 1 year 2 months 27 days||7%||7.5%|
|1 year 2 months 28 days - 1 year 11 months 25 days||7.55%||8.05%|
|1 year 11 months 26 days - 2 years 11 months 29 days||7%||7.5%|
|2 years 11 months 30 days - 5 years||6.55%||7.05%|
|5 years 1 day - 19 years 11 months 26 days||6.25%||6.75%|
Note: All interest rates shown below are as on 9th Jan 2023
RBL Bank, formerly known as Ratnakar Bank, is an Indian private sector bank headquartered in Mumbai and founded in 1943. The bank has a balance sheet size of Rs. 1,00,619 Cr as on 31st March 2021. The bank recorded a Loss of Rs 529 Cr in FY21
3.25% - 7.55%
3.75% - 8.05%
FD Rate for Seniors
₹ 3 Crores
Loan against FD
|Investment Amount||For 3 years with interest of 6.55%||For 5 years with interest of 6.55%|
|₹ 50,000||₹ 60,824||₹ 69,313|
|₹ 1 lakh||₹ 121,649||₹ 138,626|
|₹ 2 lakh||₹ 243,297||₹ 277,252|
|₹ 5 lakh||₹ 608,243||₹ 693,130|
|₹ 10 lakh||₹ 1,216,485||₹ 1,386,260|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹ 107,229||₹ 108,139|
|Total Investment Amount||₹ 100,000||₹ 100,000|
|Total Interest Gained||₹7,229||₹ 8,139|
|Bank Name||FD Interest Rates|
|Jana Small Finance Bank FD||7.85% - 8.8%|
|CSB Bank FD||5.75% - 6.25%|
|Axis Bank FD||7% - 7.75%|
|Deutsche Bank FD||7% - 7%|
|Ujjivan Small Finance Bank FD||7.2% - 7.95%|
|Indian Bank FD||6.25% - 6.75%|
|Federal Bank FD||6.5% - 7%|
|Chaitanya Godavari Grameena Bank FD||6.25% - 6.75%|
|Ellaquai Dehati Bank FD||5.3% - 5.55%|
|Paschim Banga Gramin Bank FD||5.2% - 5.7%|
RBL Bank offers multiple fixed deposit schemes to its investors, namely, the regular fixed deposit scheme, senior citizen fixed deposit scheme and tax saving fixed deposit scheme. The interest rates for RBL Bank FD schemes range between 3.25% and 6.95%. The bank allows premature withdrawals and also offers loans and overdraft facility against the FD deposit. In this article, we have covered about RBL Bank FD interest rates in detail.
The highest interest rate of RBL Bank FDs is 6.95% for a tenure of 3 years. For the same tenure for senior citizens, it is 7.45%. One can estimate their returns from RBL Bank FDs using RBL Bank FD calculators. Alternatively, they can use Scripbox’s fixed deposit calculator.
Compare the latest fixed deposit interest rates.
RBL Bank offers multiple fixed deposits that offer a wide range of exclusive benefits and attractive interest rates in India.
The fixed deposit tenure ranges between 7 days to 20 years. Once invested, one cannot change the tenure of RBL Bank FD investment. However, one can opt for premature withdrawal. And investors can close the existing RBL Bank FD and start a new FD with the desired tenure.
One can invest in RBL Bank FDs with an amount as low as INR 100 and thereafter in multiples of INR 100. There is no limit on the maximum amount of investment except for tax saving FDs, which has a limit of INR 1,50,000.
RBL Bank FD offers interest rates in the range of 3.25% p.a to 6.95% p.a. To estimate returns from fixed deposits, one can use a fixed deposit calculator.
The bank offers a preferential interest rate for senior citizens (additional 0.50%). The fixed deposit interest rates range between 3.75% to 7.45%.
To be able to open an FD account with RBL Bank, one has to be eligible. The eligible ones are Indian residents, HUFs, partnership firms, public and private companies and trusts.
The documents that one requires to open an FD account in RBL Bank are two photographs, PAN Card, identity proof (Passport, Driving license, Aadhar Card, PAN Card) and address proof (Electricity bill, Water bill, Aadhar Card, Bank statement).
Also, once the FD tenure has commenced, one cannot invest an additional amount in their existing RBL fixed deposit account. However, one can invest in a new RBL Bank fixed deposit with the desired amount.
Investment in RBL tax saving FDs qualifies for tax deduction under Section 80C of the Income Tax Act, 1961. But there is a tax levied on the interest that one earns from RBL Bank FDs. The tax rate depends on individuals’ income tax slab rates. Moreover, if the interest income exceeds INR 40,000 in case of regular citizens and INR 50,000 in case of senior citizens, then there is TDS of 10%. If the PAN details are furnished, then the TDS rate is 10%, else it is 20%.
To determine if the interest income from RBL Bank FD is above or below the TDS threshold limit, one can use a RBL FD Calculator available online. Also, they can estimate their tax liability using the Income Tax Calculator. Scripbox’s online Income Tax Calculator helps in determining one’s tax liability. Also, it is free to use.
Under the Deposit Insurance Scheme of RBI, DICGC insures all RBL bank deposits up to INR 5,00,000.
RBL Bank allows investors to withdraw their investments prematurely. However, tax saving FDs do not have the premature facility. Investors will receive interest on their RBL FD investment on the date of withdrawal. Yet, they are charged a penalty of 1% on the same. This is only for regular citizens. Senior citizens need not pay the penalty for premature withdrawal.
Depositors can nominate beneficiaries for their RBL Bank fixed deposits.
RBL Bank offers an auto-renewal facility for the deposits.
Depositors can open and manage their RBL Bank FD investments online.
RBL Bank allows investors to avail an overdraft or a loan against their FD investments. However, investors of senior citizen FDs and tax saving FDs do not have this option. Depositors can avail a loan up to 90% of the deposit value. This helps them to meet their liquidity requirements without having to break the deposit. Furthermore, the loan is given at 4.25% to 7.95%. Also, the maximum loan tenure is up to the maximum tenure of the FD.
Investors can take loans such as loan against property (home loan), education loan, business loans, etc., against RBL Bank FD. One can calculate the loan EMI using the loan EMI calculator. The loan EMI calculator works as a personal loan EMI calculator, a home loan calculator and also as a car loan calculator. The investor can also use the EMI calculator in multiple scenarios by changing the variables like personal loan interest rate, home loan interest rate and car loan interest rate.
Details of PAN Card need not necessarily be submitted to open a fixed deposit account with RBL Bank. However, there are a few implications of not disclosing PAN Card details. The TDS charge will be 20% instead of the regular 10% under Section 206AA. Also, the bank is not liable to issue any TDS certificate. Moreover, all exemption certificates, including the form 15H and 15G, are invalid.
RBL bank’s regular fixed deposit offers regular fixed income through easy investment and attractive returns.
RBL Bank Tax Savings fixed deposits are flexible and secured schemes that offer dual benefits of tax exemption under Section 80C of the Income Tax Act and attractive interest rates.
The Senior Citizen Fixed Deposit scheme offers higher returns with an additional interest rate of 0.5% p.a. for all tenures.
In a Flexi Sure Fixed Deposit scheme, the current account or savings account of the depositor is linked to the scheme. Through this scheme, one can earn better returns as well as enjoy the power of liquidity. Also, any low balance in any of the accounts is taken care of by breaking the same amount from the linked Flexi sure fixed deposit scheme.
Once the amount is partially broken to meet a shortfall, the balance amount will continue to earn interest. Also, multiple deposits can be linked to one account. Furthermore, the depositor has the flexibility to choose the tenure of the deposit.
Yes, RBL bank offers recurring deposits. Depositors can enjoy easy payment options from a savings account by providing standing instructions.
|Tenure||General Rates||Senior Citizen Rates|
|181 days to 240 days||7.25%||7.75%|
|241 days to 364 days||7.35%||7.85%|
|1 year to 1 year 364 days||8.00%||8.50%|
|2 years to 2 years 364 days||8.05%||8.55%|
|3 years to 4 years 364 days||7.60%||8.10%|
|5 years to 9 years 364 days||7.60%||8.10%|
|10 years to 20 years||7.20%||7.70%|
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