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  • RBL Bank
  • RBL Bank Fixed Deposit
RBL Bank Fixed Deposit

RBL Bank Fixed Deposit

PrivateAA (Stable) 
DICGC

7.5%

Interest for 3 years

RBL Bank FD Interest Rates 2024

TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 14 days3.5%4%
15 days - 1 month 16 days4%4.5%
1 month 17 days - 3 months4.5%5%
3 months 1 day - 5 months 29 days4.75%5.25%
5 months 30 days - 7 months 27 days5.5%6%
7 months 28 days - 11 months 29 days6.05%6.55%
11 months 30 days - 1 year 2 months 27 days7.5%8%
1 year 2 months 28 days - 1 year 5 months 29 days7.8%8.3%
1 year 5 months 30 days - 1 year 11 months 30 days8%8.5%
2 years - 2 years 11 months 30 days7.5%8%
3 years - 4 years 11 months 30 days7.1%7.6%
5 years - 19 years 11 months 26 days7%7.5%

Note: All interest rates shown above are as on 5th Feb 2024

About RBL Bank FD

RBL Bank was incorporated in 1943. The Bank offers services under the following business verticals: Commercial Banking, Corporate & Institutional Banking, Branch & Business Banking, Retail Assets and Treasury and Financial Markets Operations. The bank has its headquarters in Mumbai. As of March 2022, RBL Bank has 502 branches across India and 414 ATMs. The total deposits as of March 2022 stood at INR 79,007 crores. RBL Bank’s Fixed Deposits have an AA (Stable) Credit Rating.

RBL Bank FD

3.5% - 8%

FD Rate

4% - 8.5%

FD Rate for Seniors

₹ 5000

Minimum Deposit

₹ 3 Crores

Maximum Deposit

-

Lock-in

-

FD Tenure

-

Loan against FD

AA (Stable)

CRISIL Rating

RBL Bank FD Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 7.5%For 5 years with interest of 7.1%
₹ 50,000 ₹ 62,572₹ 71,234
₹ 1 lakh ₹ 1,25,145₹ 1,42,469
₹ 2 lakh ₹ 2,50,289₹ 2,84,938
₹ 5 lakh ₹ 6,25,723₹ 7,12,345
₹ 10 lakh ₹ 12,51,446₹ 14,24,690

Compare RBL Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs
Bandhan Bank FD
RBL Bank FD
RBL Bank FD
Maturity Amount 1,07,763 1,07,496
Total Investment Amount₹ 1,00,000₹ 1,00,000
Total Interest Gained7,763 7,496

Compare RBL Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Bandhan Bank FD
7.25% - 7.75%
Capital Small Finance Bank FD
7.15% - 7.65%
Bharat Bank FD
7.25% - 7.75%
Madhyanchal Gramin Bank FD
6% - 6.5%
Jharkhand Rajya Gramin Bank FD
6.5% - 6.75%
Uttarakhand Gramin Bank FD
6.3% - 6.8%
ICICI HFC FD
7.65% - 7.9%
Maharashtra Gramin Bank FD
6.85% - 7.35%
Federal Bank FD
7% - 7.5%
Union Bank of India FD
6.5% - 7%

Calculate RBL Bank FD Returns

1,00,000

Total Investment

7,763

Wealth Gained

1,07,763

Maturity Amount

Explore Debt Funds, instead!

The flexible & tax efficient alternative to FDs.

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 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.

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.

Types of RBL Bank Fixed Deposit Schemes

  • Regular Fixed Deposits
  • Tax Saving Fixed Deposits
  • Senior Citizen Fixed Deposits
  • Flexi Sure Fixed Deposits
  • Super Senior Citizen Fixed Deposit
  • RBL Bank Smart Deposit

Types of RBL Bank Fixed Deposit Schemes: In Detail

Regular Fixed Deposits

RBL bank’s regular fixed deposit offers regular fixed income through easy investment and attractive returns.

  • Tenure:  7 days to 20 years
  • Interest Payout: Depositors can choose to receive interest monthly, quarterly or invest till maturity
  • TDS: TDS on interest is applicable
  • Nomination facility: Available
  • Partial or Premature withdrawal: Available, however with a penalty
  • Overdraft Facility: Available
  • Convenience: One can book the deposit through internet banking and mobile banking for RBL Bank account holders

Tax Saving Fixed Deposits

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.

  • Tenure: 5 years
  • Investment Amount: By investing in RBL Bank Tax Savings fixed deposits one can save tax on deposit amount ranging between INR 100 to INR 1,50,000
  • TDS: TDS on interest is applicable
  • Nomination facility: Available
  • Partial withdrawal / Premature withdrawal: Not available
  • Joint deposits: Tax benefit will be available only to the first holder of the fixed deposit
  • Convenience: One can book the deposit through internet banking and mobile banking

Senior Citizen Fixed Deposits

The Senior Citizen Fixed Deposit scheme offers higher returns with an additional interest rate of 0.5% p.a. for all tenures.

  • Tenure:  7 days to 20 years
  • Interest Payout: Depositors can choose to receive interest monthly, quarterly or invest till maturity
  • TDS: TDS on interest is applicable
  • Nomination facility: Available
  • Partial or Premature withdrawal: Available, however with a penalty
  • Convenience: One can book the deposit through internet banking and mobile banking for RBL Bank account holders

Flexi Sure Fixed Deposits

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.

Super Senior Citizen Fixed Deposits

The Super Senior Citizen Fixed Deposit scheme offers higher returns with an additional interest rate of 0.75% p.a. for all tenures.

  • Tenure:  7 days to 20 years
  • Interest Payout: Depositors can choose to receive interest monthly, quarterly or invest till maturity
  • Nomination facility: Available
  • Partial or Premature withdrawal: Available, however with a penalty
  • Convenience: One can book the deposit through internet banking and mobile banking for RBL Bank

RBL Bank Smart Deposit

RBL Smart Deposit is a flexible term deposit scheme that offers the convenience of regular savings to its depositor along with the benefit of flexibility. Furthermore, the scheme gives an option to top-up an additional amount to increase savings at the same rate of interest at which the deposit was booked.

  • Tenure: 6 months to 5 years
  • Minimum Deposit Amount: INR 10,000
  • Maximum Deposit Amount: INR 5,00,000

Key Features of RBL Bank Fixed Deposit

RBL Bank offers multiple fixed deposits that offer a wide range of exclusive benefits and attractive interest rates in India.

Preferential Interest Rate for Senior Citizens

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%.

Eligibility Criteria

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.

Documents Required

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).

Additional Payments

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.

Tax and TDS

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.

Safety

Under the Deposit Insurance Scheme of RBI, DICGC insures all RBL bank deposits up to INR 5,00,000.

Premature withdrawal

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.

Nomination Facility

Depositors can nominate beneficiaries for their RBL Bank fixed deposits.

Auto-Renewal

RBL Bank offers an auto-renewal facility for the deposits.

Convenience

Depositors can open and manage their RBL Bank FD investments online.

PAN Card

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.

Does RBL Bank Offer Recurring Deposits?

Yes, RBL bank offers recurring deposits. Depositors can enjoy easy payment options from a savings account by providing standing instructions.

Explore Fixed Deposits By Banks

Frequently Asked Questions

What is the highest RBL Bank FD rate today?

The highest RBL Bank FD rates for general citizens is 8% p.a. and 8.5% p.a. for senior citizens.

What is the highest interest rate on RBL Bank 1 year FD scheme?

The highest interest rate on RBL Bank 1 year FD scheme is 7.5% p.a.

What is RBL Bank FD scheme interest rate for 5 years?

7.1% p.a is the interest rate for 5 years on RBL Bank FD scheme.

How many years FD will double in RBL Bank?

To know in how many years RBL Bank Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years RBL Bank Bank FD will double. The current highest RBL Bank FD interest rate is 8% so investors will double the investment in 9.00 years. Similarly, senior citizen depositors will double their FD investment in 8.47 years, where the highest FD rate for senior citizens is 8.5%.

What is RBL Bank FD minimum deposit amount?

The minimum investment in RBL Bank FD is INR 5,000. However, there is no limit on the maximum amount of investment in RBL Bank FD.

What is senior citizen fixed deposit interest rates in RBL Bank?

The senior citizen fixed deposit interest rates in RBL Bank range between 4% to 8.5% p.a. for an available minimum and maximum investment duration.

What are the available FD tenures in RBL Bank?

RBL Bank FD tenure ranges from 7 days to 19 years 11 months 26 days

What is RBL Bank FD ROI for 10 lakh deposit for 1 year?

The interest from the RBL Bank FD calculator for 10 lakh deposit for 1 year will be INR 77,633. The maturity value will be INR 10,77,633. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.

How to check the fixed deposit balance in RBL Bank?

You can check RBL Bank FD balance either online or offline mode. For online mode, log in to the RBL Bank internet banking portal. Alternatively, you can visit the nearest RBL Bank bank to update your passbook for FD balance enquiry.

How many FDs can be opened in RBL Bank?

There is no restriction on the number of FDs you can open with RBL Bank.