RBL Bank FD Rates - Ratnakar Bank Limited FD Rates Feb 2024

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RBL Bank, which was formerly known as Ratnakar Bank, was established in the year 1943. It is one of India’s largest private-sector banks. This bank currently has a current customer base of around 13.65 million. With a network of 520 branches, 1,115 business correspondent branches and 414 ATMs, this bank is spread across 28 states and union territories.

RBL Bank offers specialised services across five different business verticals. These are Commercial Banking, Corporate Banking, Branch and Business Banking, Treasury and Finance Markets and Retail Assets.

The bank offers a wide range of fixed deposit schemes that cater to different types of customers with different needs. Read on to learn about the different FD schemes and RBL Bank FD rates.

Minimum Deposit	₹5000
Maximum Deposit	No ceiling specified
Minimum Tenure	7 days
Maximum Tenure	20 years
Interest Rates	3.50% to 8.75% p.a. (including rates for super senior citizens)
Lock-in Period	5-year lock-in period in case of RBL Bank Tax Saver Fixed Deposit
Senior Citizens	4.00% to 8.30% p.a. (applicable for deposits below ₹2 crores)4.25% to 8.55% p.a. (applicable for deposits below ₹2 crores)
General Citizens	3.50% to 7.80% p.a. (applicable for deposits below ₹2 crores)7.20% to 8.00% p.a. (applicable for non-callable deposits of ₹50 lakhs to below ₹2 crores)

Table of Contents

RBL Bank FD Interest Rates – February 2024

Tenure	General Citizen	Senior Citizen

Features and Benefits of RBL Bank FD

RBL Bank offers multiple fixed deposit schemes that cater to the needs of different types of people. If you wish to take advantage of RBL Bank FD rates, read through the features and benefits of RBL fixed deposit schemes:

Senior citizens above the age of 60 get an additional 0.5% interest above the usual interest rate.
Super Senior citizens above the age of 80 get an additional 0.75% interest above the usual interest rate.
FD booking period is as high as 20 years which is double that of most of the banks in India.
You can avail of the overdraft facility against your fixed deposit.
If you are an existing customer of the bank, you can book a fixed deposit with just ₹5000. In case you are a new customer, the minimum deposit amount is ₹10,000.
Premature withdrawal facility is available to people who invest in FDs.

How to Book RBL Bank FD?

With RBL Bank, you can open a fixed deposit account both online and offline and earn attractive RBL FD rates.

Online

Following are the steps that you can follow if you want to open your fixed deposit via Internet Banking:

1. Internet Banking

Step 1: Log in to the official website of RBL Bank.
Step 2: Click on the ‘Log in’ option in the top right corner of the page that opens.
Step 3: Choose ‘Personal Banking’ from the menu.
Step 4: Enter your login details, including User ID, Password etc.
Step 5: Choose ‘Fixed Deposit’ and click on ‘Read More’.
Step 6: Select the type of FD you wish to open.
Step 7: Then click on ‘Apply Now’.
Step 8: Provide all the details that the bank asks for, like Name, Pincode, State, City, Mobile Number, and Email ID.
Step 9: Click on ‘Get OTP’.
Step 10: After you receive the OTP, provide it and accept the terms and conditions.
Step 11: You also need to choose between the two options, ‘Call Now’ or ‘Call Later’.
Step 12: After processing your request, RBL Bank executives will contact you.

2. RBL MoBank App

You can also invest in an FD with the help of the RBL MoBank app. Here are the steps that you will need to follow if you wish to go ahead:

Step 1: Any existing customers who wish to open an FD account using this app can do so after registering and creating MPIN. In case of new users, click on ‘Open Digital Savings Account’ in the app.
Step 2: A new page will open where you need to click on three horizontal hyphen icons present in the top right corner.
Step 3: Select ‘Fixed Deposit’ from the menu and then ‘Digital Fixed Deposit’.
Step 4: A calculator page will open, which you can use to check the interest you will receive.
Step 5: Then, scroll down and click ‘Open FD Now’ just above the terms and conditions.
Step 6: A new page will open here. You need to provide your Aadhaar-linked mobile number as well as a promo code if you have any.
Step 7: Click on continue and agree with all the terms and conditions.
Step 8: Next, you need to provide your KYC details like Aadhaar and PAN numbers.
Step 9: Finally, you will have to provide your bank details. Once done, the FD account will be opened successfully.

Offline

Apart from the online method, you can also open an FD account offline. These are the steps that you can follow in this case:

Step 1: Visit the nearest RBL Bank branch.
Step 2: Ask for the application form to open an FD account.
Step 3: Fill up all the details that the bank asks for.
Step 4: After filling up the form, submit it along with the requisite documents to support all the information you have provided in the form. Deposit the amount for the FD.
Step 5: After the officials successfully process your request, you will receive a Fixed deposit receipt.

Documents Required to Book RBL Bank FD

Following is the list of documents that you will need if you wish to open a fixed deposit account in RBL Bank and earn RBL FD interest rates:

A duly filled application form for the FD account
PAN card or Form 60/61
Proof of Identity – Voter card, PAN card, Passport, Driving Licence, Government ID card, Ration card with photo
Proof of Address – Electricity bill, Passport, Telephone bill, Bank statement along with cheque, Certificate issued by the Post Office
Proof of Age – Birth certificate, Senior citizen ID card in case you are above 60 years of age
Passport-sized photograph of depositor
Bank account details – account number, IFSC code, and branch name.

Eligibility to Open RBL Bank FD

RBL Bank offers its FD deposit schemes to the following people. Take a look at it if you are interested in making the most of the RBL Bank fixed deposit rates:

Applicant type: Indian residents
Age (in case of individual applicants): Citizens who are below the age of 60 years, Senior Citizens who are above the age of 60 years and Super senior citizens who are above the age of 80 years.

Types of RBL Bank FD Schemes

RBL Bank offers their customers various fixed deposit schemes to fulfil their unique needs. Each scheme aims to offer different types of benefits. There are schemes for both Indian residents as well as Non-resident Indians.

Let us take a better look at what these schemes have to offer, along with RBL FD interest rates in 2023:

1. RBL Bank Regular Fixed Deposit

If you are planning to save your money as well as grow it by earning high interest, then RBL Bank Regular Fixed Deposit is a good choice. You can also take advantage of nomination facilities and loans against FD. Other than that, it comes with additional interest returns in case you are above the age of 60.

Minimum Deposit: ₹5000 in case of existing customer and ₹10,000 in case of new customer
Maximum Deposit: No ceiling
Tenure: 7 days to 20 years (maximum of 10 years in case booked through online channels)
Interest Rate: 3.50% to 8.75% (including senior citizens)
Eligibility: Indian residents

2. RBL Bank Flexi Sure Fixed Deposits

This fixed deposit account takes care of any shortfall in your savings or current account by transferring the exact amount from the linked Flexi sure FD. During this, the remaining amount in the FD account continues receiving interest. Not only do you get the freedom to choose the tenure, but also you can link multiple deposits with your account.

Minimum Deposit: ₹5000 in case of existing customer and ₹10,000 in case of new customer
Maximum Deposit: No ceiling
Tenure: 7 days to 20 years
Interest Rate: 3.50% to 8.75% (including senior citizens)
Eligibility: Indian residents

3. RBL Bank Ace Fixed Deposits

This type of domestic term deposit is exclusively available at the branches. Premature withdrawal is not permitted under this scheme. This scheme is also available for non-individual entities like companies and associations. Whether it is a non-individual entity or an individual, they all get an overdraft facility with this scheme.

Minimum Deposit: ₹50 lakhs
Maximum Deposit: Less than ₹2 crores
Tenure: 1 year to 20 years
Interest Rate: 7.00% to 8.55% (including rates for super senior citizens)
Eligibility: Indian citizens and Non-Resident Indians

4. RBL Bank Tax Savings Fixed Deposits

If you are up for dual benefits of tax deduction as well as high interest, your best option is RBL Bank Tax Savings Fixed Deposit. This account can be opened jointly. However, the tax benefits under Section 80C would only be available to the first account holder. You also have the option to opt for this scheme online via any of the portals.

Minimum Deposit: ₹100
Maximum Deposit: ₹1,50,000 (deposits in multiples of ₹100)
Tenure: 5 years
Interest Rate: 7.10% to 7.60% (including rates for senior citizens)
Eligibility: Indian residents

5. RBL Bank Senior Citizen Fixed Deposits

Senior citizens who are above the age of 60 and below the age of 80 are eligible for this scheme. People who are interested in this scheme can invest in this through Netbanking, mobile applications, as well as through the branch by contacting the relationship manager.

Minimum Deposit: ₹5000 in case of existing customer and ₹10,000 in case of new customer
Maximum Deposit: No limit
Tenure: 7 days to 20 years
Interest Rate: 4.00% to 8.50%
Eligibility: Indian residents

6. RBL Bank Super Senior Citizen Fixed Deposits

This scheme is available for people who are above the age of 80 years; they are offered an additional interest return of 0.75% more than normal schemes. You can invest in this scheme in four ways: Internet Banking, mobile app, RBL cares chatbot, and the branch with the help of the relationship manager.

Minimum Deposit: ₹5000 in case of existing customer and ₹10,000 in case of new customer
Maximum Deposit: No limit
Tenure: 7 days to 20 years
Interest Rate: 4.25% to 8.75%
Eligibility: Indian residents

7. RBL Bank Smart Deposits

This flexible term deposit plan comes with the lowest minimum deposit value. People who invest in this scheme can enjoy benefits like flexibility along with regular savings. You can keep investing every month. A nomination facility is also available with this scheme.

Minimum Deposit: ₹1000
Maximum Deposit: ₹5 lakhs
Tenure: 6 months to 5 years
Interest Rate: 4.75% to 7.85% (including super senior citizens)
Eligibility: Indian residents

8. RBL Bank NRO Deposits

RBL Bank offers this scheme for NRIs to manage what they earn in India. Investors can open this type of account jointly as well. By availing DTAA facility, depositors can enjoy higher post-tax yield.

Minimum Deposit: No data available
Maximum Deposit: No data available
Tenure: 7 days to 20 years (a maximum tenure of 10 years in case it is booked through online channels
Interest Rate: 3.50% to 8.00%
Eligibility: Non-Resident Indians or Persons of Indian Origin

9. RBL Bank NRE Deposits

If you are an NRI and wish to transfer your foreign earnings to India, opting for an RBL Bank NRE deposit account is a good way to do so. The best part about this scheme is that the principal and the entire interest amount are repatriable. You also get the option to choose whether you wish to receive the interest payout monthly or quarterly.

Minimum Deposit: No data available
Maximum Deposit: No data available
Tenure: 1 year to 20 years (a maximum tenure of 10 years in case it is booked through online channels
Interest Rate: 7.00% to 8.00%
Eligibility: Non-Resident Indians or Persons of Indian Origin

10. RBL Bank FCNR(B) Deposits

FCNR stands for Foreign Currency Non-Resident Indian. RBL Bank FCNR(B) deposit scheme helps to maintain all the foreign earnings in a fixed deposit account in India without conversion in currency. This protects your foreign earnings from exchange rate fluctuations.

Minimum Deposit: No data available
Maximum Deposit: No data available
Tenure: 1 year to 5 years
Interest Rate: 4.40% to 5.70% (for USD)
Eligibility: Non-Resident Indians or Persons of Indian Origin

11. RBL Bank RFC Deposits

RFC or Resident Foreign Currency deposits are for those Non-Resident Indians who are planning to return to India. The best part about this deposit is that you can invest your earnings in foreign currency itself. This helps to protect your money from exchange rate flexibilities.

Minimum Deposit: No data available
Maximum Deposit: No data available
Tenure: 1 year to 5 years
Interest Rate: 4.40% to 5.70% (for USD)
Eligibility: Non-Resident Indians or Persons of Indian Origin

It is wise to check all the terms and conditions before you invest your money into any FD scheme. The same applies if you plan to invest in RBL Bank fixed deposits. You need to carefully look into factors such as RBL Bank FD rates, tenures, and penalties before deciding whether the schemes suit you.

Checking all the details is important before opening a fixed deposit account, as premature withdrawal can attract a penalty. Choose the tenure and the principal amount which aligns with your financial goals.

FAQs

What is the minimum and maximum deposit amount for RBL Bank FDs?

You can deposit a minimum amount of ₹5000 in the RBL Bank FD plans. There is no maximum deposit limit.

In case I invest for less than 6 months, will I get less interest?

If you invest in an RBL term deposit for a tenure of less than 181 days, your interest will be calculated as simple interest when your deposit matures at a rate of 4.75% p.a. For general citizens and 5.25% for senior citizens.

What is the highest interest rate given by RBL Bank, and to whom?

RBL Bank gives the highest interest rate of 8.30% to senior citizens.

What will be my interest rate if I invest my money in a 3-year FD scheme?

For a 3-year FD scheme, you will get an interest rate of 7.10% and 7.60% for general and senior citizens, respectively.

What rate of interest will I be eligible for a 5-year FD plan?

The interest rate you will be eligible for a 5-year FD plan is 7.00% and 7.50% for general and senior citizens, respectively.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.