New Delhi: Private lender RBL Bank is offering a special FD rate of 8.10 per cent on 500-day tenure term deposits called Vijay Deposit. RBL Vijay deposit offers upt to 0.50 per cent extra returns to senior citizens at 8.60 per cent and 0.75 per cent extra returns to super senior citizens on Vijay deposit FDs at 8.85 per cent.
RBL Bank FD rates
RBL Bank FDs offer a minimum rate of interest of 3.50 per cent on 7-14-day tenures and a maximum return of 8.10 per cent on 500-day tenures to general depositors.
Check tenure-wise interest rates
Deposits below INR 3 crore
Period of Deposit
Domestic & Flexi FD Interest Rates p.a.
Senior Citizen Interest Rates p.a.
NRE Interest Rates p.a.
NRO Interest Rates p.a.
7 days to 14 days
3.50%
4.00%
NA
3.50%
15 days to 45 days
4.00%
4.50%
NA
4.00%
46 days to 90 days
4.50%
5.00%
NA
4.50%
91 days to 180 days
4.75%
5.25%
NA
4.75%
181 days to 240 days
5.50%
6.00%
NA
5.50%
241 days to 364 days
6.05%
6.55%
NA
6.05%
365 days to 452 days (12 months to less than 15 months)
7.50%
8.00%
7.50%
7.50%
453 days to 499 days (15 months to 16 months 14 days)
7.80%
8.30%
7.80%
7.80%
500 days
8.10%Highest
8.60%Highest
8.10%Highest
8.10%Highest
501 days to 545 days (16 months 16 days to less than 18 months)
7.80%
8.30%
7.80%
7.80%
546 days to 24 months (18 months to 24 months)
8.00%
8.50%
8.00%
8.00%
24 months 1 day to 36 months
7.50%
8.00%
7.50%
7.50%
36 months 1 day to 60 months 1 day
7.10%
7.60%
7.10%
7.10%
60 months 2 days to 120 months
7.00%
7.50%
7.00%
7.00%
Tax Savings Fixed Deposits (60 months)
7.10%
7.60%
NA
7.10%
How to earn Rs 1 crore from RBL Vijay deposit scheme
If you invest Rs 90 lakh in an RBL Bank’s 500-day Vijay deposit scheme, you will earn an interest of Rs 10,45,485 at an 8.10 per cent rate of return. This will take the total amount to Rs 1,00,45,485.
Will banks hike FD rates?
RBI governor Shaktikanta Das warned Indian lenders to limit their fundraising to retail deposits and stay away from risky alternative investments to ensure transparency and safety of the Indian financial system. He also warned lenders against extending risky loans to borrowers, especially in the unsecured loans category for personal use.
The RBI governor also flagged risks emanating from top-up loans offered on home loans as well as gold loans by certain entities, to prevent borrowers from getting trapped and to guide banks to track the end use of such loans. RBI’s MPC kept the repo rate unchanged at 6.5 per cent for the 8th straight cycle.
RBL Bank special FD rate and tenure: The private lender is offering over 8 per cent returns on long-tenure FDs. Check FD time period and rates offered. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
