Fixed Deposit or FD is a good interest rate investment option. RBL Bank offers a Fixed Deposit Account with a high-interest rate. Fixed Deposit can open for the duration of a minimum of 7 days and a maximum of ten years. Fixed Deposit gives you a high-interest rate on your deposit amount. The Deposit minimum amount is depending upon the bank. You can also visit the official website.
Benefits of RBL Bank Fixed Deposit
- You get a higher interest rate on your fixed Deposit while comparing with saving accounts.
- Multiple fixed deposits can open.
- RBL Bank also gives a loan on your fixed Deposit so that, you don’t need to break your Deposit for your need.
- You can get an Rs.1.5 lakh exemption under Section 80 C of the Income Tax Act, 1961.
- If you are a senior citizen, then you will get a high-interest rate on your Fixed Deposit account.
Fixed Deposit Eligibility
- Fixed Deposits can open the name of Individual, Joint, Society, Company, Partnership, etc.
- The applicant must have a savings account in the bank.
Income Tax Facts on RBL Bank Fixed Deposit Interest
If you are looking for income tax fact on Fixed Deposit interest, then you can check below:
- If Fixed Deposit interest is less then Rs. 40, 000/-, then the RBL Bank will deduct TDS on interest.
- Interest earned on Fixed Deposit is taxable. It will treat as Income from Other Sources.
- If you don’t want to pay any TDS on Fixed Deposit, then you have to submit Form 15G and Form 15H in RBL Bank.
RBL Bank Tax Benefit Fixed Deposit
- Interest Rate is 6.5% for 5 years term deposits.
- The amount can not withdraw before five years.
- The deposit account can not transfer to another bank.
RBL Bank Fixed Deposit Interest Rate
| Period of Deposit | Interest Rates (% p.a.) | *Effective Annualised Yield % | Senior Citizen Interest Rates (% p.a.) | *Effective Annualised Yield % for Senior Citizen | Interest Rates (% p.a.) | *Effective Annualised Yield % | Senior Citizen Interest Rates (% p.a.) | *Effective Annualised Yield % for Senior Citizen |
| 7 days to 14 days | 5.00 | 5.00 | 5.50 | 5.50 | 5.00 | 5.00 | 5.50 | 5.50 |
| 15 days to 45 days | 5.50 | 5.50 | 6.00 | 6.00 | 5.50 | 5.50 | 6.00 | 6.00 |
| 46 days to 90 days | 6.15 | 6.15 | 6.65 | 6.65 | 6.15 | 6.15 | 6.65 | 6.65 |
| 91 days to 180 days | 6.40 | 6.40 | 6.90 | 6.90 | 6.40 | 6.40 | 6.90 | 6.90 |
| 181 days to 240 days | 6.65 | 6.75 | 7.15 | 7.26 | 6.65 | 6.75 | 7.15 | 7.26 |
| 241 days to 364 days | 6.65 | 6.82 | 7.15 | 7.34 | 6.65 | 6.82 | 7.15 | 7.34 |
| 12 months to less than 24 months | 7.40 | 7.61 | 7.90 | 8.14 | 7.40 | 7.61 | 7.90 | 8.14 |
| 24 months to less than 36 months | 7.45 | 7.66 | 7.95 | 8.19 | 7.45 | 7.66 | 7.95 | 8.19 |
| 36 months to less than 60 months | 7.20 | 7.40 | 7.70 | 7.93 | 7.20 | 7.40 | 7.70 | 7.93 |
| 60 months to less than 120 months | 7.35 | 7.56 | 7.85 | 8.08 | 7.35 | 7.56 | 7.85 | 8.08 |
| 120 months to 240 months | 6.85 | 7.03 | 7.35 | 7.56 | 6.60 | 6.77 | 7.10 | 7.29 |
| Tax Savings Fixed Deposit (60 months) | 7.35 | 7.56 | 7.85 | 8.08 |
Attention of customers/public is invited on the changes in interest rate
| Period | USD | GBP | EUR | AUD | SGD | JPY | CAD | CHF |
| 1 year and above but less than 2 years | 3.35 | 1.51 | 0.10 | 1.50 | 2.00 | 0.30 | 2.15 | 0.10 |
| 2 years and above but less than 3 years | 3.35 | 1.51 | 0.10 | 1.60 | 2.00 | 0.10 | 2.40 | 0.10 |
| 3 years and above but less than 4 year | 3.40 | 1.51 | 0.10 | 1.65 | 2.00 | 0.10 | 2.45 | 0.10 |
| 4 years and above but less than 5 years | 3.40 | 1.60 | 0.10 | 1.70 | 2.00 | 0.10 | 2.50 | 0.10 |
| 5 years | 3.50 | 1.60 | 0.10 | 1.70 | 2.05 | 0.10 | 2.50 | 0.10 |