Fixed Deposit Details
Bank Name
RBL Bank
Eligibility
Resident Individuals: This deposit scheme is available for resident Indians only. Non-Resident Indians (NRIs) are not eligible.
No minimum age requirement: Unlike Senior Citizen Fixed Deposits, there's no minimum age requirement to open a Flexi Sure Fixed Deposit.
Interest Rate
8.50% p.a.
Tenure
7 days to 10 years
Fixed Deposit Type
Recurring
FLEXI SURE FIXED DEPOSITS
Tax Benefits
No
Credit Ratings
Fixed Deposits Programme ICRA AA- (Stable) , Short term fixed deposit programme ICRA A1+
Interest Payment Frequency
Daily, monthly, quarterly, and yearly. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Cumulative
Features
Any shortfall in the savings or current account is taken care of by breaking the linked fixed deposit.
To cover the gap, a portion of the linked deposit is broken; nevertheless, the balance will continue to receive interest.
Your account can be connected to multiple deposits.
Flexibility in determining the fixed deposit's tenure.
Minimum Investment Amount
INR 5000
Features & Benefits
Pros
Higher Interest Rates
Liquidity
Linked Savings Account
Flexibility for Deposits
Cons
Penalty on Premature Withdrawals
Pros & Cons
Account Opening Procedure
How to Open?
Visit an RBL Bank Branch: This is the confirmed method for opening a Flexi Sure Fixed Deposit.
Locate your nearest RBL Bank branch. You can find a branch locator on the bank's website: https://www.rblbank.com/locate-us
Carry the required documents:Identity proof (Aadhaar card, PAN card)
Address proof (utility bill, bank statement)
Recent passport-sized photograph
Inform the bank representative that you want to open a Flexi Sure Fixed Deposit.
Fill out the application form provided by the bank.
Choose your deposit amount: The minimum deposit amount may vary, so it's best to confirm with the bank representative at the branch.
Select your tenure: Flexi Sure Fixed Deposits offer tenures ranging from 7 days to 20 years.
Link your existing RBL Bank savings account: This is crucial for the Flexi Sure feature to work. The bank will debit funds from your FD automatically if your savings account balance falls below a pre-defined limit.
Once everything is finalized, submit the form, documents, and your initial deposit amount. You will receive a Fixed Deposit Receipt (FDR) as confirmation.
Application Procedure
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