Product Details
Bank Name
RBL Bank
Eligibility
Age: You don't need to meet a specific minimum age requirement. RBL Bank Regular Fixed Deposits are open to individuals of all ages.
Residency: The deposit is available for resident individuals only (Non-Resident Indians - NRE/NRO accounts are not eligible).
Interest Rate
Up to 8.50%
Tenure
6 months to 5 years.
Fixed Deposit Type
Recurring
Smart Recurring Deposit
Tax Benefits
None
Credit Ratings
ICRA AA- (Stable)
Interest Payment Frequency
Not specified by the bank. 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
The minimum deposit amount is Rs 1000.
The maximum deposit can be of Rs 5 lakhs
Overdraft/Loan against deposit is available.
Part premature withdrawal is not allowed for a Smart Recurring Deposit.
Minimum Investment Amount
1,000
Features & Benefits
Pros
Competitive interest rates.
Additional concession for senior citizens.
Cons
Tenure of 5 years only.
Premature withdrawal is not allowed.
Pros & Cons
Account Opening Procedure
How to Open?
Visit an RBL Bank Branch: This is the traditional method.
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 Fixed Deposit.
Fill out the application form provided by the bank.
Choose your deposit amount.
Select your preferred tenure.
Decide on your interest payout option (monthly, quarterly, or annually). Interest can be credited to your savings account or compounded (interest earned adds to the principal amount).
Discuss any questions you may have with the bank representative.
Once everything is finalized, submit the form, documents, and your initial deposit amount. You will receive a Fixed Deposit Receipt (FDR) as confirmation.
Open an Online Fixed Deposit (FD) through RBL Bank Net Banking (if you're an existing customer):
Visit the RBL Bank Net Banking website: https://www.rblbank.com/
Log in using your customer ID and password.
Look for the "Term Deposits" or "Open Fixed Deposit" section.
Select your preferred tenure and deposit amount.
Choose your interest payout option.
Confirm the details and complete the online application.
Application Procedure
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