RBL Bank Fixed Deposit (FD) Rates

Updated on: Jan 7th, 2022


9 min read

RBL Bank, a next-generation bank, offers a secure way of earning returns on lump-sum deposits through their fixed deposit (FD) schemes. Find out the interest rates applicable, special features of FD schemes, eligibility criteria, documents required, and other details about RBL Bank FD schemes here.

Fixed Deposit Interest Rates 2022 of RBL Bank

The interest rates provided in the table below apply to deposits up to Rs.3 crore to domestic, NRO, NRE, and Flexi Fixed Deposits. They are applicable from 1st September 2021.

Deposit Tenure Interest Rate for Regular Customers (% p.a.)* Interest Rate for Senior Citizens (% 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 < 24 months 6.00 6.50
24 months to < 36 months 6.00 6.50
36 months to < 60 months 6.30 6.80
60 months to 60 months 1 day 6.30 6.80
60 months < 120 months 5.75 6.25
120 months to 240 months 5.75 6.25
Tax Saving Fixed Deposit (60 months) 6.30 6.80

*Interest rates are subject to change from time to time.

Different Types of RBL Bank FD Schemes

  1. Regular Fixed Deposit:

    The scheme allows you to earn attractive returns when you deposit a lump sum for a minimum period of seven days. The maximum tenure allowed under the scheme is 20 years. The scheme offers partial/premature withdrawal on your deposit.

  2. Senior Citizen Fixed Deposit:

    This scheme is dedicated to senior citizens, i.e. individuals aged 60 years and above. You can get an additional 0.5% interest rate over and above the interest rate applicable to the regular scheme. Most other features of the scheme remain the same as the ones of Regular FD scheme.

  3. Flexi Sure Fixed Deposit:

    A savings/current account will be linked to the FD account opened under this scheme. You can enjoy good returns along with a high liquidity factor under the scheme. Any shortfall in the linked savings account will be balanced by breaking the exact amount from the FD account. The remaining FD account balance will continue to earn interest at the agreed-upon rate. Note that multiple FD accounts can be linked to a single savings account.

RBL Bank FD Special Features and Benefits

  • Get attractive interest rates on the lump-sum deposit you make.
  • The minimum deposit tenure is seven days, and the maximum is 20 years.
  • Choose the interest compounding frequency from the available options of monthly, quarterly, and upon maturity.
  • Nomination facility is available.
  • Get an overdraft facility against the deposit instead of prematurely withdrawing it subject to certain conditions.
  • Book the deposit offline at the branch or online via net banking and mobile banking.
  • Get an additional 0.5% interest on Senior Citizen Fixed Deposit scheme.

Basic Eligibility Criteria for RBL Bank FD

  • Resident individuals
  • Senior citizens
  • Non-resident Indians

Documents Required

  • Proof of Identity
    • Passport
    • PAN card
    • Voter ID
    • Driver’s license
    • Aadhaar card
  • Proof of Address
    • Passport
    • Aadhaar card
    • Bank statement with a cheque
  • Proof of Date of Birth
    • Service discharge certificate
    • PAN card
    • Aadhaar card
    • Voter ID

Tax Benefits on RBL Bank Fixed Deposit

RBL Bank offers an FD scheme, Tax Savings Fixed Deposit, that provides income tax exemption under Section 80C of the Income Tax Act, 1961 and good returns on investment. Make a minimum deposit of Rs.100 up to Rs.1.5 lakh in the multiples of Rs.100. The scheme comes with a fixed deposit tenure of five years. Note that partial/premature withdrawals are not allowed.

Further, the tax will be deducted at source by the bank if the interest earned over the deposit accounts exceeds Rs.40,000 per financial year. You can submit Form 15G/15H to the bank requesting not to deduct tax at source only if your total annual income is well within the basic exemption limit.

FD Interest Rate Calculator

Get the help of our FD calculator page to predict the returns you may receive upon placing your surplus savings in a fixed deposit account.

Frequently Asked Questions (FAQs)

Are there any feature-wise differences when I open an FD account online and offline

Yes, there may be a slight feature-wise difference when you open an FD account online versus when you open it offline. For example, consider the case of a Regular Fixed Deposit scheme. In this case, the maximum tenure available via offline method is 20 years, while the maximum tenure via the online method is 10 years. Please check with your nearest branch for more details.

Can I open an FD account even if I do not have a PAN?

You can open an FD account without providing PAN. In this case, the TDS applicable, if any, will be 20% in the place of 10% with PAN.

How does the bank decide if simple interest applies to an FD account or compound interest?

If the deposit tenure you have chosen is within 181 days, then simple interest will be applied. For tenures starting from 181 days, i.e. above six months, compound interest will be applied.

Is there a penalty on premature withdrawal? Is it applicable to all account holders?

A penalty of 1% will be applied while calculating the interest component in the event of premature withdrawal. However, there is an exemption to senior citizens. The penalty of 1% will not be applied when senior citizens make an early withdrawal.

Similar Banks Offering FD Interest Rates

Similar Banks Offering FD Interest Rates
Indian Bank FD Interest RatesHSBC Bank FD Interest RatesHDFC FD Interest RatesAndhra Bank FD Interest Rates
Central Bank of India FD Interest RatesIDBI Bank FD Interest RatesAllahabad Bank FD Interest RatesCorporation Bank FD Interest Rates
Canara Bank FD Interest RatesCitibank FD Interest RatesPNB FD Interest RatesRBL FD Interest Rates
Bank of India FD Interest RatesBank of Baroda FD Interest RatesICICI FD Interest RatesSBI FD Interest Rates
Union Bank of India FD Interest RatesAxis Bank FD Interest RatesIDFC Bank FD Interest RatesKotak FD Interest Rates

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Quick Summary

RBL Bank offers various FD schemes with attractive interest rates, including schemes for senior citizens and tax-saving options. Basic eligibility criteria includes residency status and identity proof. The bank offers an additional 0.5% interest rate for senior citizens. Tax-saving FD scheme is available under Section 80C with a fixed deposit tenure of five years. An FD interest rate calculator is provided for return estimation.

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