FD interest rates revised: Investors can earn up to 8.85% on FDs in this bank For senior citizens, the interest rate varies between 4% and 8.60%
The RBL Bank has revised the fixed deposit interest rate for amounts below Rs 2 crore. The revised FD interest rates are effective from February 14, 2024.
What is the highest interest rate RBL Bank is offering?
RBL Bank offers the highest interest rate of 8.10% on FDs maturing between 18 months and 24 months. On the same FD tenure, the senior citizen will earn 0.50% extra i.e., 8.60%.FD interest of up to 9.21%: These banks offer over 9% interest rate on fixed deposits for senior citizens
Super Senior Citizens (80 years and above) are entitled to an extra interest rate of 0.75% over the general FD rate. This implies super senior citizens are eligible for the highest interest rate of 8.85% on FDs maturing between 18 months and 24 months.
RBL Bank FD interest rates
RBL Bank offers interest rates between 3.50% to 8.10% for general citizens for FDs maturing between 7 days to 10 years. For senior citizens, the interest rate varies between 4% and 8.60%.
Period of DepositDomestic & Flexi FD Interest Rates p.a.Senior Citizen Interest Rates p.a.7 days to 14 days3.50%4.00%15 days to 45 days4.00%4.50%46 days to 90 days4.50%5.00%91 days to 180 days4.75%5.25%181 days to 240 days5.50%6.00%241 days to 364 days6.05%6.55%365 days to 452 days (12 months to less than 15 months)7.50%8.00%453 days to 545 days (15 months to less than 18 months)7.80%8.30%546 days to 24 months (18 months to 24 months)8.10%8.60%24 months 1 day to 36 months7.50%8.00%36 months 1 day to 60 months 1 day7.10%7.60%60 months 2 days to 120 months7.00%7.50%Tax Savings Fixed Deposits (60 months)7.10%7.60%
Premature penalty
According to the RBL Bank website, “On premature full/partial withdrawal of the Fixed Deposit, interest shall be paid at the rate that was applicable on the date the deposit was placed and for the period for which the deposit is maintained with the Bank, subject to a penalty of 1% on such rate. However, there is no penalty for premature withdrawal of Fixed Deposits by senior citizens/super senior citizens.”
RBL Bank NRE, NRO FD interest rates
Period of DepositNRE Interest Rates p.a.NRO Interest Rates p.a.7 days to 14 daysNA3.50%15 days to 45 daysNA4.00%46 days to 90 daysNA4.50%91 days to 180 daysNA4.75%181 days to 240 daysNA5.50%241 days to 364 daysNA6.05%365 days to 452 days (12 months to less than 15 months)7.50%7.50%453 days to 545 days (15 months to less than 18 months)7.80%7.80%546 days to 24 months (18 months to 24 months)8.10%8.10%24 months 1 day to 36 months7.50%7.50%36 months 1 day to 60 months 1 day7.10%7.10%60 months 2 days to 120 months7.00%7.00%Tax Savings Fixed Deposits (60 months)NA7.10%
This story originally appeared on: India Times - Author:Faqs of Insurances
