This Private Sector Bank Is Offering 7.50% To Senior Citizens On 15 Months FD; Check Out Other Rates

A Fixed Deposit (FD) is a safe investment that promises assured returns and safety of capital. It is A fixed deposit (FD) is a secure investment that ensures capital safety and guaranteed returns. It is an investment plan where you can deposit a large sum and receive interest for a set lock-in term.

The invested capital and investment tenure take the FD interest rate into account. Market turbulence or shifts in the market's interest rate have no impact on FD returns.

RBL Bank FD

The scope of FD schemes with banks has expanded tremendously in the present times as the RBI hiked repo rates 3 times this year. You can choose from different types of FDs offered by the RBL bank to accomplish your set goals concerning investments. The private lender's Senior Citizen Scheme offers higher interest rates on those above 60 years.

According to the bank's official website, "Senior Citizens (60 years to less than 80 years) are eligible for additional interest rate of 0.50% p.a. and Super Senior Citizens (80 years and above) are eligible for additional interest rate of 0.75% p.a. Senior Citizens/Super Senior Citizens rates are not applicable on Non Resident Fixed Deposits (NRE/NRO)."

On deposits of less than Rs 2 crore, senior citizens receive 7.50% on the following maturity periods of 15 Months. Whereas, the bank offers the highest 7% interest to regular customers for the same tenure.

Interest rates on Fixed Deposits below 2 Cr w.e.f. July 21, 2022 (Domestic & Flexi Fixed Deposits)

Period of Deposit	Domestic & Flexi FD Interest Rates p.a.	Senior Citizen Interest Rates p.a.
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	5.25%	5.75%
12 months to less than 15 months	6.50%	7.00%
15 months	7.00%	7.50%
15 months 1 day to less than 24 months	6.50%	7.00%
24 months to less than 36 months	6.75%	7.25%
36 months to less than 60 months	6.55%	7.05%
60 months to 60 months 1 day	6.55%	7.05%
60 months 2 days to less than 120 months	5.75%	6.25%
120 months to 240 months	5.75%	6.25%
Tax Savings Fixed Deposit (60 months)	6.55%	7.05%

Source- RBLbank.com