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RBL Bank FD Interest Rates 2021

RBL Bank FD Interest Rates

Last Updated 19th Jul 2021

When it comes to the FD interest rate, the highest rate offered on RBL Bank FD is 6.30%. Latest RBL Bank FD interest rate for senior citizens, on the other hand ranges between 3.75% to 6.80%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 14 days 3.25% 3.75%
15 days to 45 days 3.75% 4.25%
46 days to 90 days 4.00% 4.50%
91 days to 180 days 4.50% 5.00%
181 days to 240 days 5.00% 5.50%
Earn upto 6.95% on FD APPLY NOW

RBL Bank Fixed Deposit Features

RBL Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of RBL Bank Fixed Deposit are:

  • Deposit Amount : RBL Bank FD can be opened with an amount as a low ₹ 1,000 to up to No Limit.
  • FD Tenure : Ranges between 7 days to 3 years 1 day.
  • Interest Rate Range : 3.25% p.a. to 6.30% p.a.
  • Senior Citizens FD Rate : 3.75% p.a to 6.80% p.a.
  • Highest Interest Rate : As per today’s rate, RBL Bank’s highest interest rate on FD is 6.30% offered for a tenure of 3 years 1 day.
  • Safety of RBL Bank Deposits : RBL Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : RBL Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Regular Fixed Deposits, RBL Bank Tax Savings Fixed Deposits, Senior Citizens Fixed Deposits, Flexi Sure Fixed Deposits

RBL Bank FD Interest Rates Today

Interest rates on RBL Bank deposits are updated regularly by the Government of India. The following are updated RBL Bank FD interest rates 2021:

Tenure Interest Rate
7 days to 14 days 3.25%
15 days to 45 days 3.75%
46 days to 90 days 4.00%
91 days to 180 days 4.50%
181 days to 240 days 5.00%
241 days to 364 days 5.40%
1 year to 1 year 364 days 6.10%
2 years to 2 years 364 days 6.10%
3 years 1 day 6.30%
3 years 2 days to 4 years 364 days 6.25%
5 years to 9 years 364 days 6.00%
10 years to 20 years 6.00%

RBL Bank FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, RBL Bank offers a higher interest rate to senior citizens than the general public. Listed below are the RBL Bank fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
7 days to 14 days 3.75%
15 days to 45 days 4.25%
46 days to 90 days 4.50%
91 days to 180 days 5.00%
181 days to 240 days 5.50%
241 days to 364 days 5.90%
1 year to 1 year 364 days 6.60%
2 years to 2 years 364 days 6.60%
3 years 1 day 6.80%
3 years 2 days to 4 years 364 days 6.75%
5 years to 9 years 364 days 6.50%
10 years to 20 years 6.50%

Best FD Plan as per RBL Bank FD Rates

To invest in RBL Bank fixed deposit, you must compare RBL Bank Fixed Deposit Rates for varying tenures. RBL Bank FD Interest Rates 2021 are best for the deposits with a tenure of 3 years 1 day to 3 years 1 day, wherein the current RBL Bank Fixed Deposit Interest Rates is 6.30 p.a.

If you are looking to invest in short term deposits with RBL Bank, the interest rate of RBL Bank for FD ranges from 3.25% p.a. to 5.40% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term RBL Bank Fixed Deposit Rates for senior citizens range from 3.75% to 5.90% p.a.

If you want to invest in long term deposits, RBL Bank Fixed Deposit Rates with tenure ranging from 5 years to 20 years are a good choice with interest rates on deposits at 6.00%.RBL Bank Senior citizens FD Rates are offered at special rates with the highest deposit rates of6.50% p.a. on long term FDs.

Below-mentioned is some of the benefits of opening an FD account in RBL Bank:

  • Interest on deposit is paid only at the time of the maturity
  • RBL Bank also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

RBL Bank Fixed Deposit Rate Trends

RBL Bank has cut interest rates on fixed deposits with effect from 02 Jul, 2021. The new RBL Bank highest FD rate is currently at 6.30%, which is an decrease of 0.3% from the previous highest rate of 6.60%. Currently, RBL Bank FD rate for upto 1 year is 3.25% and 6.30% for 5 year FD.

Documents required to open Fixed Deposit Account in RBL Bank

  • PAN Card
  • 2 Photographs
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

RBL Bank Fixed Deposit Rates – Premature Withdrawal

You can close your RBL Bank FD account prematurely, however RBL Bank charges a penalty of 1% for premature withdrawal. Also, The penal provisions for premature closure on RBL Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit RBL Bank

RBL Bank offers loans up to 90% against its own deposit. Note that RBL Bank will not give you loan against FD of any other bank. RBL Bank offers Loan against FD at the rate of 4.25% to 7.3%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in RBL Bank. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws ₹ 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 90,000 available for 1 month only. The amount he repays after 1 month is ₹ 90,744. So, the interest charged on the loan taken is ₹ 744.

FD Account Opening Process at RBL Bank

To open an RBL Bank Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of RBL Bank and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the RBL Bank FD after reading the terms and conditions.

To open a Fixed Deposit account in RBL Bank, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the RBL Bank FD after reading the terms and conditions.

Nomination Facility on RBL Bank FD

RBL Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an RBL Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

RBL Bank Fixed Deposit Scheme

Regular Fixed Deposits

Description:

  • A fixed deposit scheme intended for people who depend on regular fixed income with easy investment and attractive returns.
  • Convenience of booking deposit through internet banking for RBL Bank account holders
  • Nomination facility is available
  • Easy investment with attractive returns
  • Avail overdraft facility against your deposit
  • Loan facility upto 90 per cent is available on the deposit

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm
RBL Bank Tax Savings Fixed Deposits

Description:

  • A flexible and secured fixed deposit scheme with dual benefits of tax exemption under section 80C and attractive returns.
  • Interest earned on deposit is subject to TDS
  • Nomination facility is available
  • In the case of joint deposits, the tax benefit under 80C will be available only to the first holder of the deposit
  • Earn attractive interest rate on your deposit
  • Flexibility to choose interest payment frequency as per your convenience

Who is eligible?

  • Resident Indians and hindu undivided family
Senior Citizens Fixed Deposits

Description:

  • A fixed deposit to facilitate senior citizens with maximum returns on fixed deposits.
  • Easy investment with attractive returns
  • Nomination facility is available
  • Convenience of booking deposit through internet banking for RBL account holders
  • Flexibility to choose interest payment frequency as per your convenience

Who is eligible?

  • Resident Indians above 60 years of age
Flexi Sure Fixed Deposits

Description:

  • A fixed deposit linked with your savings or current account along with ensured liquidity, whenever there is a shortage of cash in your savings or current account, the deposit is partially broken to meet the shortfall in cash while the remaining part continues to earn interest.
  • Shortfall in the savings or current account is taken care by breaking the linked fixed deposit
  • Option of choosing the deposit tenure
  • Convenience to link multiple deposits to your deposit account
  • Linked deposit account can be partially broken to meet the shortfall in the

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm

FAQs

What is the highest fixed deposit interest rate for RBL Bank?

You can earn a maximum interest of 6.30% on RBL Bank fixed deposit.

Are there any special rates for senior citizens FD of RBL Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 3.25% to 6.30%. Compared to this, RBL Bank senior citizens FD are in the range of 3.75% to 6.80%.

What are the current RBL Bank FD interest rates 2021?

Current interest for FD in RBL Bank ranges between 3.25% - 6.30%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with RBL Bank?

The minimum deposit amount required to book an FD with RBL Bank is ₹ 1,000.

Did RBL Bank increase FD rates in 2021?

No, RBL Bank has reduced its Fixed Deposit rates by upto 0.3%. The best rate on RBL Bank FD has been cut to 6.30% from 6.60% earlier. The fixed deposit rates of RBL Bank are now in the range of 3.25% to 6.30% with effect from 02 Jul, 2021.

Is it possible to change the tenure of my existing fixed deposit account with RBL Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with RBL Bank without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in RBL Bank?

Yes, you can submit your application for opening an FD account on the website of RBL Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in RBL Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 6.30%. For RBL Bank FD the number of years in which your FD will get doubled is; 72/6.30 = 11

What is the interest of 1 lakh in the RBL Bank?

The interest on RBL Bank fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the RBL Bank FD interest rate 2021 across different tenures.

TenureInterest Rate
7 days to 14 days 3.25%
15 days to 45 days 3.75%
46 days to 90 days 4.00%
91 days to 180 days 4.50%
181 days to 240 days 5.00%
241 days to 364 days 5.40%
1 year to 1 year364 days 6.10%
2 years to 2 years 364 days 6.10%
3 years 1 day 6.30%
3 years 2 days to 4 years 364 days 6.25%
5 years to 9 years 364 days 6.00%
10 years to 20 years 6.00%


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RBL Bank News - Jul 2021
  • 2021-07-02 : RBL Bank revised its fixed deposits rates
    With effect from 02 July 2021, RBL Bank revised its interest rates on FD. The revised rate for a tenure of 7-14 days is 3.25%; for 15-45 days the rate is 3.75%; the rate for 46-90 days is 4%; for 91-180 days it is 4.50%, and for 181-240 days it is 5%, it is 5.40% for 241-364 days. For longer tenure of 12 months to less than 36 months, the rate is 6.10%, for 36 months to less than 60 months the rate is 6.30%. For 60 months to 60 months 1 day the rate is 6.50% and for 60 months 2 days to less than 120 months, the rate is 6%. For the longest tenures, i.e for 120 months to 240 months, the rate stands at 6% while for the Tax Savings Fixed Deposits of 60 months, the rate has been revised to 6.50%.
  • 2021-03-09 : RBL Bank planning branch expansion
    RBL Bank plans aggressive branch expansion over the next few years and target to open at least 75 new branches annually. The expansion will help the bank to increase its loan and deposits portfolio.
  • 2021-03-03 : Revised fixed deposits rates for RBL Bank
    With effect from 1 March 2021, RBL Bank revised its interest rates on FD. The revised rate for a tenure of 7-14 days is 3.25%; for 15-45 days the rate is 4%; the rate for 46-90 days is 4.50%; for 91-180 days it is 5.25%, and for 181-240 days it is 5.70% , it is 5.75% for 241-364 days the rate is 6.75%. For longer tenures of 1-2 years and 364 days, the rate is 6.50% for 3 years and one day the rate is 6.60% and for 3 years 2 days to 20 years the revised rate is 6.25%.
  • 2020-10-30 : RBL Bank Q2 net profit surges to ₹144 cr
    RBL Bank reported almost a three times increase in profit in the quarter ended September backed by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans. Further, Net profit rose to Rs 144 crore in the quarter ended September 2020 up from Rs 54 crore a year earlier supported by 23% growth in retail advances year on year even as wholesale advances continued to shrink.
  • 2020-01-16 : RBL Bank revises FD rates across certain tenors by five bps
    Private sector bank, RBL Bank revised its interest rates across certain tenors by five basis points. The revised rate for 12-24 months is 7.40% for 24-36 months it is 7.45%, and rates for 36 to 60 months are revised to 7.20%. Earlier, these rates were set at 7.45%, 7.50%, and 7.25%, respectively. Further, the rate for 60 months to 120 months is revised to 7.35% from 7.40%, and for 120 months to 240 months, the rate is revised to 6.85% from 6.90. Fixed Deposit rates for senior citizens vary by 50 basis points.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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