After the revision, the bank is offering interest rates between 3.50% and 8% on FDs for general citizens and 8.50% interest rates on FDs for senior citizens

FD interest rates up to 8.75%: This bank revises interest rates on FDs; check here The bank is offering interest rates up to 8.75% on FDs for super senior citizens (80 and above)

RBL Bank has revised the interest rates on fixed deposits (FD) for amounts less than Rs 3 crore. The revised FD interest rates are effective from December 15, 2024, according to the bank’s website. After the revision, the bank is offering interest rates between 3.50% and 8% on FDs for general citizens and 8.50% interest rates on FDs for senior citizens. The bank is offering interest rates up to 8.75% on FDs for super senior citizens (80 and above).

On which tenure bank offers the highest interest rate?

RBL Bank offers the highest interest rate of 8% on FDs maturing in 500 days. Senior citizens will get 0.50% extra interest on the same FD tenure i.e., 8.50% interest.

Senior citizen FD interest rate 2024: Full list of fixed deposits offering up to 8.05% interest in 3 years for senior citizens

Latest RBL Bank FD interest rates

Period of Deposit	Domestic & Flexi FD Interest Rates p.a.
7 days to 14 days	3.50%
15 days to 45 days	4.00%
46 days to 90 days	4.50%
91 days to 180 days	4.75%
181 days to 240 days	5.50%
241 days to 364 days	6.05%
365 days to 452 days (12 months to less than 15 months)	7.50%
453 days to 499 days (15 months to 16 months 14 days)	7.80%
500 days	8.00%Highest
501 days to 545 days (16 months 16 days to less than 18 months)	7.80%
546 days to 24 months (18 months to 24 months)	7.80%
24 months 1 day to 36 months	7.50%
36 months 1 day to 60 months 1 day	7.10%
60 months 2 days to 120 months	7.00%
Tax Savings Fixed Deposits (60 months)	7.10%

Is there a penalty on premature withdrawal of FD?
According to the bank’s 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.”

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RBL Bank senior citizen FD rates
Senior citizens (aged 60 years to less than 80 years) are eligible for an additional interest rate of 0.50% per annum.

Period of Deposit	Senior Citizen Interest Rates p.a.
7 days to 14 days	4.00%
15 days to 45 days	4.50%
46 days to 90 days	5.00%
91 days to 180 days	5.25%
181 days to 240 days	6.00%
241 days to 364 days	6.55%
365 days to 452 days (12 months to less than 15 months)	8.00%
453 days to 499 days (15 months to 16 months 14 days)	8.30%
500 days	8.50%Highest
501 days to 545 days (16 months 16 days to less than 18 months)	8.30%
546 days to 24 months (18 months to 24 months)	8.30%
24 months 1 day to 36 months	8.00%
36 months 1 day to 60 months 1 day	7.60%
60 months 2 days to 120 months	7.50%
Tax Savings Fixed Deposits (60 months)	7.60%

Is there a penalty for premature withdrawal of FDs for senior citizens?

There is no penalty for premature withdrawal of fixed deposits by senior citizens/super senior citizens.

Interest rates on FDs for super senior citizens

Super senior citizens (aged 80 years and above) are eligible for an additional interest rate of 0.75% per annum. RBL Bank offers the highest interest rate of 8.75% on fixed deposit tenure of 500 days for super senior citizens.

This story originally appeared on: India Times - Author:Faqs of Insurances