RBL Bank FD Interest Rate

An RBL Bank Fixed Deposit (FD) could be an ideal investment option if you are looking for stable and guaranteed returns. The bank offers FDs with interest rates as high as 8.85% p.a. with exclusive benefits for senior citizens. For super senior citizens aged over 80 years, there is an additional 0.75% p.a. interest rate. Similarly, senior citizens aged between 60 and 80 years old can receive an extra 0.50% p.a., providing stable growth during retirement years.

The competitive interest rates ensure that your investments grow steadily, while the wide range of tenor options offers flexibility to suit your financial needs.  

Here are the interest rates offered by RBL Bank for FDs with tenures ranging from 7 days to 10 years:

Note: The interest rates mentioned above are valid as of 3rd September 2024 and are subject to change at RBL Bank’s discretion. Check the bank’s official website for the latest rates before investing.  

RBL Bank offers attractive interest rates on tax-saving FDs with a 5-year tenure. These FDs provide a safe investment option with stable returns and offer additional tax benefits under Section 80C of the Income Tax Act, of 1961. Here are the current interest rates for tax-saving fixed deposits:

Note: The interest rates mentioned above are valid as of 3rd September 2024 and subject to change  at RBL Bank’s discretion. Check the bank’s official website for the latest rates before investing.

Explore the interest rates offered by RBL Bank for NRO and NRE fixed deposits:

Note: The interest rates mentioned above are valid as of 3rd September 2024 and subject to change  at RBL Bank’s discretion. Check the bank’s official website for the latest rates before investing. Senior and super senior citizen interest rates are not applicable for NRE and NRO accounts.

Here is an illustration showing what your returns on investment will look like upon maturity. It compares the tenures and payouts for 3 and 5 years at an interest rate of 8.10% p.a. for regular citizens. This illustration does not include the additional interest offered to senior and super senior citizens.

Note: The rates and other fixed deposit terms mentioned are for illustration purposes only. Please refer to the bank or NBFC's website to verify the latest interest rates before investing.

Before you begin investing, it is important to understand all the charges involved:

• Premature Withdrawal

One such charge to be aware of is the premature withdrawal penalty. If you withdraw your FD before maturity, it will be subject to a penalty. The interest will be paid at the rate applicable on the date the deposit was booked, subject to a 1% penalty on the applicable rate. However, senior citizens and super senior citizens are exempt from premature withdrawal charges.

• Tax Deducted at Source (TDS) 

The interest you earn on a fixed deposit is fully taxable and is taxed according to the income tax slab you fall under. This tax can reduce your overall returns at the time of maturity. The exemption limit for TDS on interest earned is ₹40,000 for non-senior citizens and ₹50,000 for senior citizens. Additionally, individuals with a total taxable income below ₹2.5 Lakhs are exempt from TDS on their FDs, subject to 15G/H declaration submitted with the bank.

The process of investing in an RBL Bank FD through Bajaj Markets is simple and straightforward. Here is a step-by-step guide:

1. Navigate to the fixed deposit section  

2. Fill in the ‘Invest Now’ form with the required details, such as your mobile number, date of birth, and pin code

3. Enter the OTP or verification code sent to your mobile number

4. Compare the interest rates offered by several banks and NBFCs

5. Select RBL Bank FD from the list of available partners, along with the suitable tenure and interest payout frequency

6. Provide your name and PAN card details

7. Upload your PAN card, Aadhaar card, and a current photograph for verification

8. Cross-check and update the details you have entered, such as your address, marital status, and email address

9. Enter your banking details, such as your bank’s name, IFSC code, and account number

10. Add your FD nominee details

11. Proceed to make the online payment with your preferred payment gateway

12. Start earning interest on your investment