RBL Bank FD rates: RBL Bank has updated its fixed deposit (FD) interest rates for amounts below Rs 2 crore, effective from May 1, 2024. These revised rates could benefit a range of investors, including senior citizens and super senior citizens.
Top interest rate: 8.75% for super senior citizens
As per an ET report, RBL Bank provides the highest interest rate of 8% on fixed deposits that mature in 18 to 24 months. For the same term, senior citizens get an extra 0.50%, resulting in an 8.50% rate. Super senior citizens (80 years and older) receive an additional 0.75%, bringing their rate to 8.75%.
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| Deposits below INR 2 crore | ||
| Period of Deposit | Domestic & Flexi FD Interest Rates p.a. | Senior Citizen Interest Rates p.a. |
| 7 days to 14 days | 3.50% | 4.00% |
| 15 days to 45 days | 4.00% | 4.50% |
| 46 days to 90 days | 4.50% | 5.00% |
| 91 days to 180 days | 4.75% | 5.25% |
| 181 days to 240 days | 5.50% | 6.00% |
| 241 days to 364 days | 6.05% | 6.55% |
| 365 days to 452 days (12 months to less than 15 months) | 7.50% | 8.00% |
| 453 days to 545 days (15 months to less than 18 months) | 7.80% | 8.30% |
| 546 days to 24 months (18 months to 24 months) | 8.00% | 8.50% |
| 24 months 1 day to 36 months | 7.50% | 8.00% |
| 36 months 1 day to 60 months 1 day | 7.10% | 7.60% |
| 60 months 2 days to 120 months | 7.00% | 7.50% |
| Tax Savings Fixed Deposits (60 months) | 7.10% | 7.60% |
NRE and NRO fixed deposit rates
RBL Bank’s Non-Resident External (NRE) fixed deposits offer interest rates between 7.50% and 8%. For Non-Resident Ordinary (NRO) fixed deposits, the rates range from 3.5% to 8%. Note that senior citizen and super senior citizen bonus rates do not apply to NRE or NRO fixed deposits.
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| Period of Deposit | NRE Interest Rates p.a. | NRO Interest Rates p.a. |
| 7 days to 14 days | NA | 3.50% |
| 15 days to 45 days | NA | 4.00% |
| 46 days to 90 days | NA | 4.50% |
| 91 days to 180 days | NA | 4.75% |
| 181 days to 240 days | NA | 5.50% |
| 241 days to 364 days | NA | 6.05% |
| 365 days to 452 days (12 months to less than 15 months) | 7.50% | 7.50% |
| 453 days to 545 days (15 months to less than 18 months) | 7.80% | 7.80% |
| 546 days to 24 months (18 months to 24 months) | 8.00% | 8.00% |
| 24 months 1 day to 36 months | 7.50% | 7.50% |
| 36 months 1 day to 60 months 1 day | 7.10% | 7.10% |
| 60 months 2 days to 120 months | 7.00% | 7.00% |
| Tax Savings Fixed Deposits (60 months) | NA | 7.10% |
Premature withdrawal rules
According to RBL Bank’s website, if you withdraw your fixed deposit early, either in full or partially, the bank will calculate your interest based on the rate when you first opened the deposit and for the length of time it was kept. However, a 1% penalty will be applied to this rate. The good news is that there’s no penalty for early withdrawal for senior citizens and super senior citizens.
