Ratnakar Bank Interest Rates on FD, Jan 2017

Fixed Deposit Interest Rate of Ratnakar Bank

Last Updated 20th Jan 2017
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.
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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

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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 - Jan 2017
23rd Jan 17 RBL registers growth of 59 percent in its net profit in third quarter of FY 17
Ratnakar Bank has reported a growth of 59 percent in its net profit at Rs 129 crore for the third quarter of FY17 as compared to Rs. 81 crore for the corresponding quarter of FY16. Gross non performing assets of the bank have reduced to 0.52 percent during the quarter as compared to 0.69 a year ago. As per a leading official of the bank, its retail loan book comprising of loan against property and business loan has fallen steeply to 40 percent during the current quarter as a fallout of demonetisation.
13th Jan 17 RBL cuts saving account deposit rates to 6 percent
Ratnakar Bank has reduced its saving account deposit rate for deposits up to Rs. 10 lakhs to 6 percent as compared to 6.1 percent earlier. The revised deposit rate for bulk deposits up to Rs. 50 lakhs now stands at 6.5 percent as compared to 7 percent earlier. The rates are effective from 6th January, 2017.
22nd Dec 16 RBL Bank reduces its MCLR up to 45 bps
Ratnakar Bank Limited has reduced its overnight and one month marginal cost of lending rates by 30 bps to 9.70 percent as compared to 10 percent earlier. The revised MCLR rates for six month and one year lending now stands reduced at 9.80 and 9.85 percent respectively. The bank has also reduced its three year lending rate by 45 bps to 10.05 percent. New rates are effective from 22nd December, 2016.
14th Dec 16 RBL Bank organizes an initiative for girl child education
RBL Bank organised a cyclothon named Umeed 1,000 to raise funds and spread awareness for the education of underprivileged girl child. The theme of the initiative matches the core philosophy of the bank that is Apno Ka Bank.
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.
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