Updated 06 Dec 2023
RBL Bank Limited, previously known as Ratnakar Bank, was established in 1943 in Kolhapur, Maharashtra. It has since become one of India's rapidly growing private sector banks, with an ever-expanding nationwide reach. The bank offers specialised services under five business verticals: Corporate and Institutional Banking, Commercial Banking, Branch and Business Banking, Retail Assets and Treasury and Financial Markets Operations. RBL Bank is listed on both NSE and BSE.
RBL gives a wide range of fixed deposits. And the best-fixed deposit interest rate on your FD investment. Types of FDs offered by RBL bank are:
Flexi sure fixed deposits
Regular fixed deposits
Tax-saving fixed deposits
Senior citizens fixed deposits
To invest in RBL Bank Fixed Deposits, the following are eligible-
Depositors have to submit their identity and address proof to open an FD online and offline:
Identity proof
Address proof
If the investor has a saving account or current account with RBL Bank, then, Fixed deposit account can be opened in both online and offline way-
Online way
Offline way
When it comes to withdrawing your Fixed Deposit, you can do so online or offline.
For Online FD withdrawal
For Offline FD withdrawal
As per the bank's fixed deposit account terms and conditions, if a deposit is withdrawn prematurely, the interest will be calculated at the applicable rate for the actual period for which the deposit remained with the bank, subject to a penalty of 1%.
To determine the impact of this penalty fee, you can use the FD Premature Withdrawal Penalty Calculator. This calculator allows you to estimate the amount of your Fixed Deposit that will be affected by the penalty fee in the event of an early withdrawal. By factoring in the penalty fee, you can determine the net amount you will receive upon withdrawal.
Is the nomination facility available on RBL bank FD?
Yes, banks offer nomination facilities to FD investors keeping unforeseen circumstances in mind.
What is the maximum exemption that I can get under tax-saving FDs?
Maximum tax exemption is ₹ 1,50,000/-
Is there any special benefit for senior citizens on FD?
Yes. They can enjoy an additional interest return of 0.5% annually over and above the usual FD interest rate.
Can I apply for a loan against a Fixed Deposit?
Yes, one can avail loan against a fixed deposit and continue to earn interest on it.
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