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RBL Bank Fixed Deposit

RBL Bank FD Scheme

Last Updated 01st Jan 2021

RBL Bank fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate 3.25% to 6.75%
Minimum Tenure 7 days
Maximum Tenure 20 years
Deposit Amount Rs. 1,000
Maximum Deposit No Limit
    Earn upto 6.95% on FD APPLY NOW

    RBL Bank FD

    RBL Bank is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between 7 days to 20 years. Apart from that, RBL Bank FD offers regular returns on fixed deposit ranging between 3.25% to 6.75%. For senior citizens, the interest rates on fixed deposits range between 3.75% to 7.25%. In addition to that, RBL Bank fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

    Types of RBL Bank Fixed Deposit Schemes

    Different type of RBL Bank term deposit products offered to the investors are listed as follows:

    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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

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

    Benefits of RBL Bank FD

    RBL Bank fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are listed as follows:

    • Guaranteed returns: The best thing about RBL Bank FD is that it offers guaranteed and assured returns to the investors. The return offered on fixed deposit is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, RBL Bank offers FD rates up to 6.75%. The interest rates offered on RBL Bank FD is not only assured but also way higher than a savings account.
    • Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. Investing in a FD with a FD provider with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, RBL Bank term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
    • Loan against FD: The investment made in FD scheme is not only a reliable investment option but can also act as an asset. This is because RBL Bank fixed deposit allows one to borrow a secured loan against RBL Bank FD. The Bank allows a loan up to 90-95% of the FD amount. The best part about RBL Bank loan against fixed deposit is that one does not need to break his or her FD to borrow the loan.
    • Flexible tenures: RBL Bank FD offers the investors the flexibility to choose the investment tenure as per their convenience. RBL Bank offers fixed deposit for a minimum tenure of up to a maximum tenure of 20 years. RBL Bank offers different interest rates across FD tenures.
    • Flexible investment: Apart from the flexibility of tenure, RBL Bank fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of Rs. 1,000. Apart from that, one can invest in the RBL Bank FD up to a maximum of No Limit.

    Premature Withdrawal Terms and Conditions

    Though a fixed deposit with RBL Bank means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

    Withdrawing funds prematurely from RBL Bank will attract an interest rate lowered by Allowed below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of RBL Bank fixed deposits with tenure less than seven days, the bank does not pay any interest.

    Eligibility Criteria for RBL Bank FD

    RBL Bank FD facility can be availed by the following type of investors:

    • Indian Citizens
    • Members of HUFs or the Hindu Undivided Family
    • Business firms
    • Local governing bodies
    • Government departments
    • Employees of private limited companies
    • Trust accounts

    Documents for RBL Bank FD

    RBL Bank fixed deposit requires one to submit the following documents:

    • Passport size photographs
    • Identity proofs such as Aadhar card, passport, PAN card, and driving license.
    • Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
    • Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
    • Bank account details such as passbook and account number.

    FAQs

    What is the loan against FD repayment tenure?

    RBL Bank offers the loan against FD facility to the FD investors with a repayment tenure of up to 20 years.

    What is the minimum investment for FDs under RBL Bank?

    RBL Bank FD can be availed with a minimum deposit of Rs. 1,000.

    What is the minimum amount for a fixed deposit in RBL Bank?

    The minimum amount required for a fixed deposit investment in RBL Bank fixed deposit is Rs. 1,000.

    What is the current interest rate on FD in RBL Bank?

    Currently, RBL Bank offers an interest rate ranging between 3.25% to 6.75% on its fixed deposits.

    What is the penalty for early withdrawal?

    The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

    What is the minimum FD tenure for which a fixed Deposit account can be opened in RBL Bank?

    RBL Bank fixed deposit can be opened with a minimum tenure of 7 days.


    RBL Bank News - Jan 2021
    • 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.
    • 2019-09-26 : RBL Bank revised its FD rates
      With effect from September 24, 2019, RBL Bank revised its interest rates on fixed deposits. The revised rate for a tenure of 7-14 days is 5.00%; for 15-45 days the rate is 5.50%; the rate for 46-90 days is 6.25%; for 91-180 days it is 6.50%, and for 181-364 days the rate is 6.75%. For longer tenure of 1-2 years, the rate is 7.60%; for 2-3 years it is 7.65%; for 3-5 years the rate is 7.35%; the rate for 5-10 months is 7.50%, and the revised rate for 10-20 years is 7.00%.
    • 2019-04-15 : Bajaj Finserv RBL Bank SuperCard offers 5% cash back on shopping
      The SuperCard which has been jointly announced by the NBFC Bajaj Finserv and private sector lender, RBL Bank in 2017 is offering attractive cashback of up to 5% on shopping. The offer is available to all the SuperCard members from 20th March to 20th June where you can avail cashback of up to Rs. 1,000 per transaction. Besides this, the NBFC is also planning to achieve significant growth across is personal loans and fixed deposits.
    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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