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RBL Bank offers various fixed deposit accounts that offer a pool of exclusive benefits and competitive interest rates in India. A fixed deposit is one of the most highly preferred ways of investment and the attractive RBL Bank FD interest rates help the citizens to achieve their set financial goals. Customers are required to make the minimum deposit at the time of opening the account.

RBL Bank FD Rates 2020

TenureGeneral FD RatesSenior Citizen FD Rates
7 days to 14 days5.00%5.50%
15 days to 45 days5.50%6.00%
46 days to 90 days6.15%6.65%
91 days to 180 days6.40%6.90%
181 days to 240 days6.65%7.15%
241 days to 364 days6.65%7.15%
1 year to 1 year 364 days7.20%7.70%
2 years to 2 years 364 days7.25%7.75%
3 years to 4 years 364 days7.00%7.50%
5 years to 9 years 364 days7.15%7.65%
10 years to 20 years6.65%7.15%

RBL FD Interest Rates – Special Features

  • The tenure ranges from 7 days to 20 years
  • Easy investment with attractive returns
  • The convenience of booking through internet banking for RBL account holders
  • Interest payout options available monthly, quarterly or choose to keep it invested till maturity
  • Nomination facility is available
  • Loan/overdraft facility up to 90% is available on the deposit
  • Partial/Premature withdrawal of FD is permitted

Types of RBL Bank Fixed Deposit Schemes

Regular Fixed Deposits

  • This scheme is the best for people who relies on a regular fixed income with easy investment and attractive returns.
  • The convenience of booking through internet banking for RBL Bank Account holders
  • Loan/overdraft facility is available
  • Nomination facility is available
  • Easy investment with attractive RBL FD rates
  • Resident Indians, HUFs, private or pubic limited company, trust, and partnership firm

RBL Bank Tax Savings Fixed Deposits

  • Under this scheme, customers can avail of a flexible FD scheme with dual benefits of tax exemption under section 80C and attractive returns
  • Interest earned is subject to TDS
  • Nomination facility is available
  • In case of joint deposits, the tax benefits under section 80C can only be availed by the first holder of the deposit
  • Flexibility to choose interest payout frequency as per your convenience

Flexi Sure Fixed Deposits

  • 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

Senior Citizens Fixed Deposits

  • As the name implies, this deposit provides senior citizens with maximum returns on the FDs
  • Nomination facility is available
  • RBL account holders have the convenience of booking a deposit through internet banking
  • Flexible interest payment frequency as per the convenience of the customer

RBL Bank Term-wise Interest Rates

One of the best ways of investing your money and earn a profit is to secure your earnings in RBL FDs. Depending on the tenures, these FDs are further categorized as short-term, medium-term, and long-term deposits.

Short-term Deposits: For an RBL FD with tenure ranging from 7 days to 12 months, the interest rate offered is from 5.00% p.a. to 6.65% p.a. These deposits are known as short term deposits as they have a tenure less than 1 year.

Medium-term Deposits: 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 7.00%

Long-term Deposits: These deposits have their tenure ranging from 5 years to 10 years and offer an interest rate of 7.15%.

RBL FD Calculator

The fixed deposit calculator of any bank provides you an estimate of how much you will earn on fixed deposits. You can use the RBL Bank FD Calculator which can be easily found online. It simply asks for details like type of fixed deposit, date, tenure and amount to be deposited.

Tax Implications

  • If the amount invested is for a tenure of 5 years, it will be eligible for tax deduction under IT Section 80C
  • In case the annual interest earned exceeds Rs. 10,000, the applicable tax will be deducted at source, i.e. RBL Bank.

RBL FD Premature Withdrawal

As per the terms and conditions of the bank, the penalty for premature withdrawal closure of RBL FD is along with the 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.

RBL Bank FD Rates Amidst Coronavirus

Due to the repo rate cut by RBI by 75 bps during coronavirus lockdown, RBL Bank may reduce the FD interest rates in the coming days. This can affect the interest of fixed depositors adversely.

RBL Bank Fixed Deposit Frequently Asked Questions

What is the minimum deposit amount to open an RBL Bank FD account?

The minimum deposit required to open a fixed deposit account Rs. 10,000.

What is the highest interest rate offered by RBL Bank FD?

The maximum interest one can earn on RBL Bank Fixed Deposit 7.25%.

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.

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