RBL Bank is the only leading private sector bank presently offering higher interest rates on savings accounts, up to 6.00 percent. The bank not only offers the best savings rates but also offers attractive fixed deposit rates. Higher interest rates on fixed deposits are currently being offered by RBL Bank, IndusInd Bank, and DCB Bank among the private sector banks. In respect of fixed deposits, RBL Bank has recently revised its fixed deposit interest rates. The new FD rates of the bank stated below are in effect as of July 2, 2021 for a deposit amount of less than Rs 2 Cr.
RBL Bank FD Rates
RBL Bank offers both regular citizens and senior citizens fixed deposit products with periods ranging from 7 days to 20 years. FD interest rates range from 3.25 percent per year to 6.50 percent per year for deposits with a maturity period of 7 days to 20 years. RBL Bank now provides 3.25 percent on deposits maturing in 7-14 days, 3.75 percent on deposits expiring in 15-45 days, and 4.00 percent on deposits maturing in 46-90 days as a result of the adjustment. FDs maturing in 91 days to 180 days get 4.50 percent interest, while deposits maturing in 181 days to 240 days offer 5.00 percent interest. On deposits with a maturity period of 241 to 364 days, the bank is now promising an interest rate of 5.40%.
Long-term deposits with a duration of two years or less than three years would fetch a 6.10 percent interest rate. RBL Bank offers a 6.30 percent interest rate on three- to five-year FDs. The bank is now offering a 6.00 interest rate on FDs maturing in 60 months 2 days to less than 120 months and 120 months to 240 months. RBL Bank provides elderly people 0.50 percent higher interest rates than the general public. Senior citizens will now get interest rates ranging from 3.75 percent to 7.00 percent following the most recent adjustment by the bank.
|Tenure||Regular FD Rates||Senior Citizen FD 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%|
|241 days to 364 days||5.40%||5.90%|
|12 months to less than 24 months||6.10%||6.60%|
|24 months to less than 36 months||6.10%||6.60%|
|36 months to less than 60 months||6.30%||6.80%|
|60 months to 60 months 1 day||6.50%||7.00%|
|60 months 2 days to less than 120 months||6.00%||6.50%|
|120 months to 240 months||6.00%||6.50%|
|Tax Savings Fixed Deposit (60 months)||6.50%||7.00%|
|Source: RBL Bank|