RBL Bank revises FD rates of interest, senior residents get extra advantages

Mumbai-based RBL Bank has revised the rates of interest on mounted deposits beneath ₹2 crore throughout the purchasers’ class. Senior residents are the largest beneficiaries as they earn extra charges between 0.5-0.75% on these FDs. The new charges have come into impact from November 1, 2022. The new charges range from 3.25% to 7.25% for the overall class, whereas the charges vary from 3.75% to a whopping 7.75% for senior residents.

Here are the newest rates of interest on FDs beneath ₹2 crore:

General class:

The financial institution is providing the best fee of seven.25% on 725 days of tenure. While the speed is 7% from 453 days to 724 days, and 726 days to lower than 24 months. The fee is 6.75% on 24 months to lower than 36 months, whereas the speed is 6.55% on 36 months to 60 months 1 day.

The tax-saving FDs (60 months) have an rate of interest of 6.55%.

RBL Bank affords 6.50% on 365 to 452 days (12 months to lower than 15 months) tenures, and 5.75% on 60 months 2 Days to 240 months tenures.

Further, the financial institution is providing between 3.25% to five.25% on tenures from 7 days to 364 days.

Senior residents:

To elderlies, RBL Bank is giving the best fee of seven.75% on 725 days. While the speed is 7.50% on tenures from 453 days to 724 days and 726 days to lower than 24 months.

The rate of interest is at 7.25% on 24 months to lower than 36 months, 7.05% on 36 months to 60 months 1 day, and 6.25% on 60 months 2 Days to 240 months tenures. The tax saving FD scheme having a tenure of 60 months has an rate of interest of seven.05%.

RBL Bank additionally affords a 7% fee on tenures from twelve months to 452 days (12 months to lower than 15 months). Meanwhile, the charges vary from 3.75% to five.75% on tenures from 7 days to 364 days.

According to the RBL Bank web site, Senior Citizens (60 years to lower than 80 years) are eligible for a further rate of interest of 0.50% p.a. and Super Senior Citizens (80 years and above) are eligible for a further rate of interest of 0.75% p.a. Senior Citizens/Super Senior Citizens charges will not be relevant on Non-Resident Fixed Deposits (NRE/NRO).

Notably, the rates of interest are topic to alter now and again. The deposit shall be booked upon the provision of clear funds with the financial institution at an relevant rate of interest as on the date of receipt of the funds by the financial institution.

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