This Private Sector Bank Offering More Than 8% Interest On FD To Senior Citizens
RBL Bank, a private sector bank, has recently announced an increase in the interest rate on fixed deposits (FD) under 2 crore. According to the bank's official website, the new FD rates are effective from January 11, 2023.
Post-hike in FD rates, the RBL Bank is now offering interest ranging from 3.25% to 6.25% to the general public and 3.75% to 6.75% to senior citizens. The bank is offering maximum interest of 7.55% on FDs with maturity between 453 and 725 days. Whereas, senior citizens are getting maximum interest rate of 8.05%.
RBL Bank FD Rates
On deposits that mature in the next 7 to 14 days, the bank is offering an interest rate of 3.25%, while an interest rate of 3.75% is offered on deposits with a maturity period of 15 to 45 days by the bank. The Bank offers an interest rate of 4.00% for deposits maturing in the next 46 to 90 days, and an interest rate of 4.50% for deposits maturing in the next 91 to 180 days.
For deposits maturing between 181 and 240 days, the bank now offers 5% interest, while for 241 and 364 days maturity periods the interest rate is 5.85%. The bank now offers 7% interest rate on fixed deposit tenors ranging from 365 to 452 days (12 months to less than 15 months). The bank also offers 7% on maturity period of 726 days to less than 24 months, 24 months to less than 36 months and 36 months to 60 months 1 day, respectively.
The RBL Bank will offer a maximum interest rate of 7.55% on tenors ranging from 453 to 725 days. RBL Bank will offer 6.25% interest rate on tenors ranging from 60 months 2 days to 240 months. The bank offers an interest rate of 7% on The tax Savings Fixed Deposit (60 months).
According to the Bank's official website, "The maximum aggregate amount that can be invested in the Tax Savings Fixed Deposit (80C FD) under a single PAN is Rs. 150,000 and the same cannot be closed prematurely before expiry of the lock-in period of 5 years. Tax Savings Fixed Deposit is applicable for Domestic/NRO (Not Applicable for NRE Fixed Deposits)."
FD Interest Rate on Domestic & Flexi Fixed Deposits w.e.f. January 11, 2023
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 | 5.85% | 6.35% |
365 to 452 days (12 months to less than 15 months) | 7.00% | 7.50% |
453 to 459 days (15 months) | 7.55% | 8.05% |
460 to 724 days (15 months 1 day to less than 725 days) | 7.55% | 8.05% |
725 days | 7.55% | 8.05% |
726 days to less than 24 months | 7.00% | 7.50% |
24 months to less than 36 months | 7.00% | 7.50% |
36 months to 60 months 1 day | 7.00% | 7.50% |
60 months 2 days to 240 months | 6.25% | 6.75% |
Tax Savings Fixed Deposit (60 months) | 7.00% | 7.50% |