RBL Bank revises its FD interest rates. Check the latest rates here | Mint
Source: Live Mint
RBL Bank has revised its fixed deposit interest rates with effect from Dec 15. Now the interest rates range between 4 to 8.5 percent per annum. The highest interest rate of 8 percent is offered on the deposits of 500-day tenure to general citizens, and 8.5 percent to senior citizens.
The bank also offers 7.8 percent interest to regular depositors of three tenures. These tenures are 453 to 499 days, 501 to 545 days and finally 546 to 24 months. At the same time, senior citizens are offered an extra 50 basis points.
Special rates for selected tenures
Following this, general citizens are entitled to earn 7.80 percent on tenure that ranges between 453 days to 499 days and for 501 days to 24 months. General citizens are offered 7.5 percent interest on tenures that range between 24 months 1 day to 36 months, and for tenure between 365 days to 452 days.
Meanwhile, RBL Bank offers an interest of 7.10 percent on tenure between 36 months 1 day to 60 months and on 60-month tax saving fixed deposits. On a tenure between 60 months two days to 120 months, the bank offers 7 percent. On short tenures i.e., for tenures between 7 days to one year, the bank offers an interest between 3.5 percent to 7.5 percent.
Additionally, super senior citizens are offered an extra interest of 75 basis points on all these tenures.
Notably, for fixed deposits with tenure below 181 days, interest will be calculated at maturity as simple interest. Minimum tenure for Domestic & NRO Fixed Deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days from the date of deposit.
