Ratnakar Bank Interest Rates on FD, Dec 2016

Fixed Deposit Interest Rate of Ratnakar Bank

Last Updated 25th Nov 2016
Tenure General Rates Senior Citizen Rates
7 days to 14 days 5.00% 5.50%
15 days to 45 days 5.25% 5.75%
46 days to 90 days 6.75% 7.25%
91 days to 180 days 7.00% 7.50%
181 days to 240 days 7.15% 7.65%
241 days to 364 days 7.50% 8.00%
1 year to 1 year 364 days 7.75% 8.25%
2 years to 2 years 364 days 7.85% 8.35%
3 years to 4 years 364 days 7.70% 8.20%
5 years to 9 years 364 days 7.70% 8.20%
10 years to 20 years 7.70% 8.20%
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  • Ratnakar Bank offers FD interest rates upto 7.85% per annum.
  • Interest on deposits with Ratnakar Bank is typically compounded quarterly.
  • Ratnakar Bank accepts deposits starting at Rs. 10000 for various tenures.
  • For senior citizens (age more than 60 years), Ratnakar Bank offers higher interest rate over and above rates mentioned below.
Calculate Ratnakar Bank
FD Maturity Amount

Ratnakar Bank Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw your money subject to minimum moratorium requirements.
  • However, in case of premature withdrawal, Ratnakar Bank pays 1% lower ROI than that applicable for actual duration of deposit.

Loan against Ratnakar Bank FD

  • Ratnakar Bank offers loan upto 90% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
  • Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.

Ratnakar Bank Interest Rates in your city. How and where to apply?

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • In case you already hold an account with Ratnakar Bank, you don’t need to submit KYC documents again.
  • To know more or apply, contact any of the branches of Ratnakar Bank in your city - Find Ratnakar Bank Branches here

About Ratnakar Bank

Ratnakar Bank Limited (now called RBL Bank) is a private bank in India established in the year 1943 with its head office in Kolhapur in Maharashtra. In the year 1956, Ratnakar Bank was conferred the rank of Scheduled Commercial Bank by the Reserve Bank of India. After successfully establishing its presence in Maharashtra and Karnataka, the Bank is now expanding rapidly in key growth markets like Andhra Pradesh, Telangana, Tamil Nadu, Gujarat, Delhi NCR, Punjab, Haryana, Madhya Pradesh, Rajasthan and West Bengal. The Bank expanded its branches from 88 in 2010 to 185 in 2014. Apart from growing its branch network, the Bank has also scaled up its ATMs from 19 in 2010 to over 350 in 2014. Ratnakar Bank rebranded itself to RBL Bank in December 2013. The bank services more than 500,000 customers and has a total business of Rs. 21,000 crore. Today, RBL Bank offers specialized services under the five business verticals: namely Corporate & Institutional Banking, Commercial Banking, Retail Banking, Agriculture & Development Banking and Financial Markets. The bank reported total assets of worth Rs. 18,198 crore for the FY 2014 and net profit of Rs. 92.67 crore for same year. The bank also has total networth of Rs 2,012 crore in FY 2014.

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News - Dec 2016
01st Dec 16 RBL Bank launches Aadhaar based disbursement of micro loans
Ratnakar Bank has launched Aadhaar Payment Based System (APBS) scheme for micro loan disbursements. With this, RBL becomes the first bank to provide cashless disbursement of micro loans. Under the new system, the bank will transfer the loan amount directly to the Aadhaar enabled bank accounts of micro loan borrowers.
29th Nov 16 RBL Bank ties up with Bajaj Finance to launch co-branded credit cards
RBL Bank has announced a partnership with Bajaj Finance to launch a series of co-branded credit cards. The card will have many customer friendly features such as no cost EMIs, low interest rates and digital payment solutions along with other attractive offers and deals. The card will be targeted at customers who do not hold a credit card, both in metro and non metro cities.
17th Nov 16 RBL becomes first bank to bring master pass QR mobile payments to India
Ratnakar Bank becomes the first bank to bring QR code based mobile payments to India. Customers can make payments using Mastercard Masterpass QR mobile payment solutions. Bank has integrated Masterpass QR service into its mobile platform called OnGo digital wallet in conjunction with India Transact Services. The digital wallet will host prepaid Mastercard user to make cashless transactions.
08th Oct 16 Small Scale Industries - RBL Bank, NeoGrowth and OPIC sign pact to finance SME in India
RBL Bank, Neo Growth Credit Pvt. Ltd and Overseas Private Investment Corporation (OPIC), the U.S. Government development finance institution have jointly committed to provide financing for small and medium enterprises (SMEs) in the Indian retail space. RBL Bank loan will allow Neo Growth to provide loans ranging from Rs. 200,000 to 7,500,000 to the retail SMEs.
22nd Sep 16 Ratnakar Bank has reduced its MCLR from 22nd September, 2016
Ratnakar Bank has reduced its Marginal Cost Based Lending Rates (MCLR) across maturities, effective from 22nd September, 2016. The overnight, 6 month and 1 year has been reduced by 15 basis points to 10.00, 10.35 and 10.40 per cent respectively. The 1 month and 3 month MCLR has been reduced by 20 basis points to 10.00 and 10.15 per cent respectively. Similarly, 2 year MCLR has reduced by 10 bps to 10.40 per cent and 3 year MCLR reduced by 5 bps to 10.50 per cent. For borrowers who have taken floating rate home loan from Ratnakar Bank after April 1, 2016, the reduction in MCLR will translate into a reduction in their home loan rates.
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