|CEO||Mr Vishwavir Ahuja|
|Listed on exchange as||RBL Bank Ltd.|
|Tenure||Regular customers||Senior citizens|
Under this scheme, the fixed deposit account is linked with your preferred savings or current account along with ensured liquidity. In case, there is a shortage of cash in the savings or current account, the deposit is partially broken down to meet the cash crunch while the remaining part continues to earn interest.
Customers have the convenience to link multiple deposits to the deposit account
For an RBL FD with tenure ranging from 7 days to 12 months, the interest rate offered is from 3.25% p.a. to 6.10% p.a. These deposits are known as short term deposits as they have a tenure of less than 1 year.
Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits is around 6.10% - 6.30%
These deposits have their tenure ranging from 5 years to 20 years and offer an interest rate of 6.00%.
An RBL Bank FD can be opened using online and offline methods-
1) Online Method
Note, an RBL FD account can be opened through net banking and mobile banking.
2) Offline Method
For opening an RBL Bank FD account via offline mode, one has to visit the nearest RBL Bank branch. Fill out the RBL Bank FD application form and present all the necessary documents with the deposit amount. On successful processing of the application, an FD account can be opened.
The individuals and groups mentioned below are eligible for operating RBL FD accounts.
NRIs can also invest in such RBL Bank instruments, provided they use either an NRE or an NRO account.
To initiate investments through RBL Bank fixed deposit schemes, the individual must furnish the following documents.
What is the minimum deposit amount to open an RBL Bank FD account?
The minimum deposit required to open a fixed deposit account Rs. 1000.
What is the highest interest rate offered by RBL Bank FD?
The maximum interest one can earn on RBL Bank Fixed Deposit is 6.00% for regular customers and 6.50% for senior citizens
What are the tenures offered by RBL Bank?
The RBL FD tenures range from 7 days to 20 years.
Who all are eligible to open a Fixed Deposit account with RBL Bank?
Resident individuals and HUFs are eligible to open an RBL FD account.
Is premature withdrawal allowed on RBL FD?
Yes, it’s allowed. However, as per the terms and conditions of the bank, the penalty for premature withdrawal closure of RBL FD is along with a lower interest rate of 1% than the actual contracted rate. On premature withdrawal of the deposit, interest will be calculated at the rate applicable for the period for which the deposit has actually remained with the bank.