RBL Bank Limited, previously known as Ratnakar Bank, was established in 1943 in Kolhapur, Maharashtra. It has since become one of India's rapidly growing private sector banks, with an ever-expanding reach throughout the nation. The bank offers specialised services under five business verticals namely: Corporate and Institutional Banking, Commercial Banking, Branch and Business Banking, Retail Assets and Treasury and Financial Markets Operations. RBL Bank is listed on both NSE and BSE.
|Tenure||For General Citizens (p.a.)||For Senior Citizens (p.a)|
|7 days to 14 days||3.5%||4%|
|15 days to 45 days||4%||4.5%|
|46 days to 90 days||4.5%||5%|
|91 days to 180 days||4.75%||5.25%|
|181 days to 240 days||5.5%||6%|
|241 days to 364 days||6.05%||6.55%|
|365 to 452 days (12 months to less than 15 months)||7%||7.5%|
|453 days to less than 24 months (15 months to less than 24 months)||7.8%||8.3%|
|24 months to less than 36 months||7.5%||8%|
|36 months to 60 months 1 day||7.1%||7.6%|
|Note: All interest rates are updated as of 1st Aug 2023|
Fixed Deposits are one of the safest ways of investing. FD involves investing a lump-sum amount into a bank at a fixed interest rate and for a fixed period. At the maturity of the period, you earn the principal amount along with the compound interest on it. An FD can be as short as 7 days and as long as 20 years. Based on your investment period, the interest rate is accrued.
Fixed Deposit comes with the following features:
RBL gives a wide range of fixed deposits. And the best-fixed deposit interest rate on your FD investment. Types of FDs offered by RBL bank are:
To invest in RBL Bank Fixed Deposits, the following are eligible-
Depositors have to submit their identity and address proof to open an FD online and offline:
Documents required for identity proof:
Documents required for identity proof:
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-
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 amount of the deposit and select the tenure of FD. Also, enter the nominee details.
Step 5- Click confirm and continue.
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.
When it comes to withdrawing your Fixed Deposit, you have the option of doing so either online or offline.
For online FD withdrawal:
For offline FD withdrawal:
As per the bank's fixed deposit account terms and conditions, if a deposit is withdrawn prematurely, the interest will be calculated at the applicable rate for the actual period for which the deposit remained with the bank, subject to a penalty of 1%.
To determine the impact of this penalty fee, you can use the FD Premature Withdrawal Penalty Calculator.
This calculator allows you to estimate the amount of your Fixed Deposit that will be affected by the penalty fee in the event of an early withdrawal. By factoring in the penalty fee, you can determine the net amount that you will receive upon withdrawal.
Yes, banks offer nomination facilities to FD investors keeping unforeseen circumstances in mind.
Maximum tax exemption is ₹ 1,50,000/-
Yes. They can enjoy an additional interest return of 0.5% per annum over and above the usual FD interest rate.
Yes, one can avail loan against a fixed deposit and continue to earn interest on it.
Disclaimer: The calculator and the results of the same are based on information inputted by you and extracted from third party sources. The information on this page is for illustrative purposes only and does not amount to any investment advice or recommendation. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. The information displayed on this page does not constitute an invitation to invest in any product nor is it a promise of performance. Interest rates are not updated in real time and you are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions.