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How to Open RBL Bank Fixed Deposit Account

Updated 29 Aug 2023

Navigating the financial world can seem intricate, especially when looking for stable and reliable investment avenues. Fixed Deposits (FDs) have always been a favoured choice for many, given their assured returns and low risks. RBL Bank, with its robust banking services, offers a streamlined process to open an FD account.

Whether you're a seasoned investor or a newbie testing the investment waters, this blog will guide you step-by-step on how to open an FD account with RBL Bank effortlessly. Join us as we explore the procedures, benefits, and what makes RBL's FDs a notable choice for investors.

Opening an FD Account using various Modes

If the investor has a saving account or current account with RBL Bank, then, Fixed deposit account can be opened in both online and offline way-

Online -
Step 1- Login to your Net Banking Application. 
Step 2- Select 'Transact' and choose Open Fixed deposit.
Step 3- Fill in the required details after selecting the bank's branch.
Step 4- Enter the deposit amount and select the tenure of FD. Also, enter the nominee details.
Step 5- Click confirm and continue.

Offline -
Step 1- Visit the bank branch.
Step 2- Take the FD application form. 
Step 3- Fill in the required details and submit the necessary documents. 
Step 4- Submit the form to the branch. 

Eligibility Criteria and documents required to open a Fixed Deposit with RBL

To invest in RBL Bank Fixed Deposits, the following are eligible- 
Senior Residents 
Non-Senior Resident Citizens

Documents required for identity proof:

  • Passport 
  • Voter ID card 
  • PAN card 
  • Driving licence 
  • Photo ration card 
  • Government ID card
  • Senior citizen ID card

Documents required for Address proof:

  • Electricity bill 
  • Telephone bill 
  • Certificate issued by Post office 
  • Bank statement with cheque

FAQs

Is the nomination facility available on RBL bank FD?

Yes, banks offer nomination facilities to FD investors keeping unforeseen circumstances in mind.

What is the maximum exemption that I can get under tax-saving FDs?

Maximum tax exemption is ₹ 1,50,000/-

Is there any special benefit for senior citizens on FD?

Yes. They can enjoy an additional interest return of 0.5% annually over and above the usual FD interest rate.

Can I apply for a loan against a Fixed Deposit?

Yes, one can avail loan against a fixed deposit and continue to earn interest on it.

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