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.

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