Product Details
Bank Name
RBL Bank
Eligibility
Age: You must be 80 years of age or older to qualify for the Super Senior Citizen Fixed Deposit scheme.
Residency: The deposit is available for resident individuals only (Non-Resident Indians - NRE/NRO accounts are not eligible).
Interest Rate
8.00% p.a.
Tenure
7 days to a maximum of 10 years.
Fixed Deposit Type
Regular
SUPER SENIOR CITIZEN FIXED DEPOSITS
Tax Benefits
No
Credit Ratings
ICRA AA- (Stable) ICRA A1+
Interest Payment Frequency
monthly, quarterly, or maturity basis.
Cummulative/Non-Cummulative
Cumulative
Features
Convenience of applying online with RBL MoBank, Internet Banking, and RBL Cares - Chatbot.
Get interest as per your choice - monthly, quarterly, or maturity basis.
Easily book through the Branch or by contacting your Relationship Manager.
Flexibility in selecting a tenure of a minimum of 7 days to a maximum of 10 years.
Take advantage of the overdraft (OD) facility for liquidity up to 90% of the principal value.
There is a facility for nomination.
There are no early penalty fees if a term deposit is withdrawn partially or prematurely.
Minimum Investment Amount
No information provided
Fees and Charges
Pros
Convenience of applying online with RBL MoBank, Internet Banking, and RBL Cares - Chatbot.
Get interest as per your choice - monthly, quarterly, or maturity basis.
Easily book through the Branch or by contacting your Relationship Manager.
Flexibility in selecting a tenure of a minimum of 7 days to a maximum of 10 years.
Take advantage of the overdraft (OD) facility for liquidity up to 90% of the principal value.
There is a facility for nomination.
There are no early penalty fees if a term deposit is withdrawn partially or prematurely.
Cons
No tax benefits
Pros & Cons
Account Opening and Procedure
How to Open?
Visit an RBL Bank Branch: This is the confirmed method. Here's what you'll need to do:
Locate a branch near you.
Bring documents proving your identity (Aadhaar card, PAN card), address (utility bill, bank statement), and age (senior citizen documents, passport etc.). The exact documents may vary, so it's best to confirm with the bank beforehand.
Be prepared to fill out an account opening form specifically for Super Senior Citizen Fixed Deposits.
Choose your deposit amount (minimum amount not specified on the website) and preferred tenure.
Discuss any questions you may have with a bank representative.
Once everything is finalized, submit the form and documents along with your initial deposit amount. You'll receive a Fixed Deposit Receipt (FDR) as confirmation.
Application Procedure
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