RBL Bank Increases Fixed Deposits Interest Rate Upto 7.70%, Post RBI Rate Hike

RBI, the central bank hiked the key lending rate yesterday at its monetary policy meeting, and major PSU and private banks are increasing interest rates on FDs and savings accounts post the rate hike. RBL Bank has also initiated a rate hike, which came into effect on October 1.

Revised FD interest rates for: 7 days to 240 days

For RBL Bank account holders, for FD investment from 7 days to 14 days, the interest rate for public is 3.25%, while the interest rate for senior citizen is 3.75%, for FD investment from 15 days to 45 days, the interest rate for public is 3.75%, while the interest rate for senior citizen is 4.25%, for FD investment from 46 days to 90 days, the interest rate for public is 4%, while the interest rate for senior citizen is 4.50%, for FD investment from 91 days to 180 days, the interest rate for public is 4.50%, while the interest rate for senior citizen is 5%, for FD investment from 181 days to 240 days, the interest rate for public is 5%, while the interest rate for senior citizen is 5.50%.

New FD interest rates for: 241 days to 725 days

For FD investment from 241 days to 364 days, the interest rate for public is 5%, while the interest rate for senior citizen is 5.50%, for FD investment from 241 days to 364 days, the interest rate for public is 5.25%, while the interest rate for senior citizen is 5.75%, for FD investment from 12 months to less than 15 months, the interest rate for public is 6.50%, while the interest rate for senior citizen is 7%, for FD investment of 15 months, the interest rate for public is 7%, while the interest rate for senior citizen is 7.50%, for FD investment from 15 months 1 day to less than 725 days, the interest rate for public is 7%, while the interest rate for senior citizen is 7.50%, for FD investment from 15 months 1 day to less than 725 days, the interest rate for public is 7.25%, while the interest rate for senior citizen is 7.75%.

Revised FD interest rates for: 726 days to 240 months

For FD investment from 726 days to less than 24 months, the interest rate for public is 7%, while the interest rate for senior citizen is 7.50%, for FD investment from 24 months to less than 36 months, the interest rate for public is 6.75%, while the interest rate for senior citizen is 7.25%, for FD investment from 36 months to 60 months 1 day, the interest rate for public is 6.55%, while the interest rate for senior citizen is 7.05%, for FD investment from 60 months 2 Days to 240 months, the interest rate for public is 5.75%, while the interest rate for senior citizen is 6.25%.

The bank is also offering Tax Savings Fixed Deposit for 60 months, where the interest rate for public is 6.55%, while the interest rate for senior citizen is 7.05%.

Best FD interest rates comparison

 

Tenure	Rate for public	Rate for senior citizen
181 days to 240 days	5.00%	5.50%
15 months	7.00%	7.50%
15 months 1 day to less than 725 days	7.25%	7.75%
60 months (tax savings)	6.55%	7.05%