RBL Bank establishes special FD rates with up to 8.3% return

RBL Bank

RBL Bank has increased special tenor fixed deposit (FD) rates, with the maximum rate now set at 8.05% for senior citizens, effective November 25. The maximum FD rate for non-senior citizens is 7.55% for tenures of 453 to 459 days, 460 to 724 days, and 725 days. On the other hand, the rates for super-senior citizens have been set at 8.30% for the same period.

Senior citizens’ rates have been set at 7.50% for tenures ranging from 365 to 452 days and 726 to 24 months. Similarly, the FD rate for non-senior citizens is 7% for the same tenor.

Senior citizens will receive a 6.75% return on FDs with more than 60 months of tenure, while non-senior citizens will receive a 6.25% return on FDs. Super-senior citizens, on the other hand, will earn 7%. You can open FDs with terms ranging from 7 days to 240 months with the company.

Senior and super senior citizen rates are only available for domestic deposits.

Also Read | RBL Bank profits after total deposits increased by 5 per cent YoY in Q2

Furthermore, Bajaj Finance Ltd., a non-banking finance company (NBFC), launched a new 39-month exceptional tenor fixed deposit (FD) scheme with a 7.85% interest rate for senior citizens on Tuesday. The FD rate for non-senior citizens is 7.60% for the 39-month term. The highest rate for senior citizens, on the other hand, is fixed at 7.95% for 44 months.
The highest FD rate for non-senior citizens is 7.70% for the same tenor (44 months). A 12-23-month cumulative FD will earn 6.80%, while a 15-month specific FD will earn 6.95%. (for non-senior citizens). A 12-23-month cumulative FD for senior citizens, on the other hand, will earn 7.05%, while a 15-month specific FD will earn 7.20%. (for senior citizens). You can start FDs with terms ranging from 12 to 60 months with the company.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.