Updated 15 Dec 2023
Navigating the world of finance after retirement requires astute planning and prudent choices. Fixed Deposits, a timeless favourite, become even more relevant for senior citizens, offering a safe and steady return. RBL Bank acknowledges the invaluable contributions of our senior community by offering preferential FD interest rates tailored for them.
These specially designed rates provide higher returns on savings and ensure financial stability during the golden years. This article delves into the nuances of Senior Citizen FD Interest Rates offered by RBL Bank, ensuring you have all the information you need to make an informed decision.
For Domestic/NRO/NRE-
Tenure | Interest Rate for Senior Citizens (per annum) |
---|---|
7 days to 14 days | 3.75% |
15 days to 45 days | 4.25% |
46 days to 90 days | 4.50% |
91 days to 180 days | 5.00% |
181 days to 240 days | 5.50% |
241 days to 364 days | 6.35% |
365 to 452 days (12 months to less than 15 months) | 7.50% |
453 to 459 days (15 months) | 8.05% |
460 to 724 days (15 months 1 day to less than 725 days) | 8.05% |
725 days | 8.05% |
726 days to less than 24 months | 7.5% |
24 months to less than 36 months | 7.5% |
The eligibility criteria for the senior citizen FDs is that they need to be at least or above the age of 60 on the day of opening the FD account. They typically need to be residents to open a senior citizen FD; However, NRIs can also open accounts through NRE and NRO accounts.
The documentation required is similar to that of a normal FD account opening. One metric being essential is your age proof.
Identity Proofs
Address Proof
Age proof is mandatory to avail of a Senior Citizen FD account.
Who qualifies as a senior citizen at RBL Bank?
Generally, individuals aged 60 years and above are considered senior citizens by most banks, including RBL Bank.
Is there a specific tenure for senior citizen FDs at RBL Bank?
RBL Bank offers a range of tenures for FDs. However, the special interest rate for senior citizens is applicable across various tenures.
Can I open a joint FD account with a senior citizen rate?
Yes, but typically, the primary account holder must be a senior citizen to avail of the special rates.
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.