RBL Bank FD Rates: Best Schemes and Tricks to Gain Quick and High Returns


If there is less pain, there is less gain. This phrase has been the most common concept in the world of investment. Fixed Deposit is best known for its safety trait but it also gets criticised for lesser returns. But can an FD investor ever make huge earnings? 

Well, we are here to give you interesting pieces of information on RBL Bank FD rates. We will also put light on the ways you can make more money in less time and security. 

About RBL Interest Rates

Ratnakar Bank Limited (RBL) has made a name for itself as one of the top financial institutions in the private sector over the years. Fixed Deposits are a major investment instrument that the bank provides. Rates for RBL FDs range from 3.50% p.a. to 7.80% p.a. for deposits under Rs. 2 crore. This rate is valid for maturities ranging from seven days to twenty years. Older citizens are given a 0.50 percent discount.

For FDs with tenures ranging from 7 days to 20 years, RBL Bank offers interest rates of 3.50–7.80% p.a. for the general public, and 4.00–8.30% p.a. for senior citizens. For 5 year terms, RBL Bank Tax Saving FDs have an interest rate of 7.00% p.a. for the general public, and 7.50% p.a. for senior citizen depositors. Also, the bank provides NRIs with a variety of fixed deposit options, including NRO, NRE, and FCNR (B) fixed deposits. In addition to US Dollars (USD), British Pounds Sterling (GBP), Euros (EUR), Australian Dollars (AUD), Singapore Dollars (SGD), Japanese Yen (JPY), Canadian Dollars (CAD), and Swiss Francs, RBL Bank also takes FCNR (B) fixed deposits (CHF).

Types of Fixed Deposit Schemes Offered by RBL Bank

Check out the types of interest rates RBL Bank offers to its customers:-

Regular Fixed Deposit

  • Tenure: 7 days to 20 years; if fixed deposits are purchased through online means, the maximum tenure is 10 years.
  • There is a facility for nomination.
  • There is a borrowing option for fixed deposits.
  • For tenures of less than 180 days, interest rates will be calculated using the “simple interest” method.
  • Optional payout schedules include monthly and quarterly options. Interest will be calculated at a discounted rate depending on the current rates in the event of a monthly payout.

FD for Tax Savings

  • Under Section 80C, each financial year, deposits made under this programme are eligible for a tax deduction of up to Rs. 1.5 lakh.
  • Duration: 5 years
  • There is a facility for nomination.
  • For a tenure of less than 181 days, interest rates will be calculated using simple interest.

Interest Rates on RBL Bank FDs below Rs.2 crore

Here is the table representation for RBL interest rates for the fiscal year 2023:-

Period of Deposit Domestic & Flexi FD Interest Rates p.a. NRE Interest Rates p.a. NRO Interest Rates p.a.
7 days to 14 days 3.50% NA 3.50%
15 days to 45 days 4.00% NA 4.00%
46 days to 90 days 4.50% NA 4.50%
91 days to 180 days 4.75% NA 4.75%
181 days to 240 days 5.50% NA 5.50%
241 days to 364 days 6.05% NA 6.05%
365 to 452 days (12 months to less than 15 months) 7.00% 7.00% 7.00%
453 to 459 days (15 months) 7.80% 7.80% 7.80%
460 to 724 days (15 months 1 day to less than 725 days) 7.80% 7.80% 7.80%
725 days 7.80% 7.80% 7.80%
726 days to less than 24 months 7.00% 7.00% 7.00%
24 months to less than 36 months 7.00% 7.00% 7.00%
36 months to 60 months 1 day 7.00% 7.00% 7.00%
60 months 2 days to 240 months 6.25% 6.25% 6.25%
Tax Savings Fixed Deposit (60 months) 7.00% NA 7.00%

RBL Bank FD Rates for Senior Citizens below Rs.2 crore

Have a glance at the RBL interest rates for senior citizen:-

Period of Deposit Senior Citizen Interest Rates p.a.
7 days to 14 days 4.00%
15 days to 45 days 4.50%
46 days to 90 days 5.00%
91 days to 180 days 5.25%
181 days to 240 days 6.00%
241 days to 364 days 6.55%
365 to 452 days (12 months to less than 15 months) 7.50%
453 to 459 days (15 months) 8.30%
460 to 724 days (15 months 1 day to less than 725 days) 8.30%
725 days 8.30%
726 days to less than 24 months 7.50%
24 months to less than 36 months 7.50%
36 months to 60 months 1 day 7.50%
60 months 2 days to 240 months 6.75%
Tax Savings Fixed Deposit (60 months) 7.50%


Check out the below table to know the RBL Bank FD rates for FCNR/RFC:-

1 year and above but less than 2 years 5.70% 4.00% 3.00% 3.50% 1.20% 0.05% 2.75% 0.05%
2 year and above but less than 3 years 5.50% 4.20% 2.20% 3.50% 1.25% 0.05% 2.50% 0.05%
3 year and above but less than 4 years 4.40% 4.00% 2.00% 2.85% 1.30% 0.06% 2.25% 0.05%
4 year and above but less than 5 years 4.45% 3.00% 2.00% 2.75% 1.35% 0.06% 2.00% 0.05%
5 years 5.50% 3.00% 2.00% 2.60% 1.40% 0.06% 2.00% 0.05%

How to Calculate the Returns on RBL Bank Fixed Deposits

Interest Rates on RBL Bank FDs can be calculated by using a simple formula mentioned below manually:-

A = P (1+r/n) ^ n x t

In this:-

  • ‘A’ stands for the maturity amount
  • ‘P’ stands for the initial investment
  • ‘n’ stands for the number of payouts for interest in a year
  • ‘r’ stands for the interest rate in decimal
  • ‘t’ is the investment tenure

Note: A-P i= ROI (Return on Investment)

Also, one can also try using interest rate calculators that give instant and accurate figures.

Benefits of Investing in RBL Bank FDs

There are a number of good reasons why stakeholders are being a part of RBL bank fixed deposit rates.

Let us check some of them: –

  • User-friendly interface which is feasible to access for all types of investors.
  • Calculations are at the fingertips, thereby saving crucial time for potential investors.
  • Users can rest assured knowing that the computations through an RBL FD calculator are always accurate.
  • An investor has the liberty to adjust and modify multiple criteria to the decided format for a correct combination to earn better returns. 

Comparison of RBL Bank FD Rates with Other Banks

Name Interest rate (p.a.) Tenure Min. deposit
RBL Bank 3.25% – 6.30% 1 – 10 years ₹1,000
Bajaj Finance Ltd. 7.11% – 8.20% 1 – 5yrs ₹15,000
SBI Bank 2.90% – 5.40% 1 – 10yrs ₹1,000
ICICI Bank 2.50% – 5.60% 1 – 10yrs ₹10,000
Axis Bank 2.50% – 5.75% 1 – 10yrs ₹5,000
HDFC Bank 2.50% – 5.50% 1 – 10yrs ₹5,000

Tips to Maximise Your Returns on RBL Bank FDs

Here are some takeaways for customers who are looking forward to making the best returns on RBL FD rates:-

Compounding FD Returns

RBL FD rates offer an interesting way to maximise the return on investment. This is by receiving the sum interest return on the additional interest on interest that is applied to the sum since you started saving. This basically means that the investor is reinvesting the amount on RBL bank fixed deposit rates. In this, while starting an account, the holders are asked with the option to reinvest or receive gains on a quarterly or yearly basis, in which you need to be precise and wise enough with the higher return objective.

Select Short-term Deposit Majorly

RBL bank FD rates are great when chosen for a short-term tenure. In fact, most banks offer an incredible rate of return on investment in short-term deposits. Yes, you heard that right. If you extend your current FD or put money into a new FD, choose short-term deposits. You can avoid putting your money up for a lengthy spell and take advantage of interest rate increases when they occur by choosing short-term, such as a year or less, in the current market. Consider which FD is the greatest because knowing the answer to this question will help you achieve your goal. The digital Fixed Deposit options offered by RBL Bank are many and practical for everyone. For further details, look at their fixed deposit programmes.

Use the FD Laddering Method

Even if interest rates rise as a result of the current situation of the economy, FD laddering guarantees a strong return on investment. By distributing your lump sum amongst various FDs according to their maturity, you can create an FD laddering method. By incorporating this FD ladder strategy, you can be sure that your average return will be higher overall and that you won’t have all of your contributions locked up at the same time at the lowest interest rate.

Prevent Early Withdrawal Fees

A fixed deposit should be kept until the end of its term. To allow your money to grow, avoid making early withdrawals. Sometimes people might feel the need to liquidate their FDs in order to deal with sudden cash flow problems. Students should be aware that premature withdrawals may result in penalties. It would be better to choose an overdraft against a fixed deposit. You are qualified for a quick overdraft of up to 90% of your FD amount. Determine whether the overdraft facility is accessible or not while determining which FD is better.

Pay Attention to the Interest Penalty.

When you already have low-rate FDs, wait to move until the interest rate rises. Early withdrawal interest must be less than the interest you would receive from renewing at a higher rate. For instance, you would be required to pay a 0.5% penalty and your effective rate would decrease to 4.5% if you left your current Fixed Deposit (FD), which pays 5% yearly. But, if the new FD pays you 6% p.a., you will still make money despite the fine.

Risks and Limitations of Investing in RBL Bank FDs

RBL Bank FD rates can convince the customer to make a move and invest. But do you know how to decide whether you are on the right track? Let’s check out below:-

Plan Investment by Splitting

In case you are thinking of investing INR 1,00,000 to RBL Bank fd interest rates, stop there! You should rather opt to split that amount into small chunks and then deposit it in other banks as well. This will help you gain benefits from competition on the same sum. 

Acknowledge Interest Rate Risks

The higher the risk, the greater the interest rate. We know that fixed deposits are the safest option in the investment world, but it is also important to know that the gains you are expecting will never turn out to be that worthy. If not, then do not invest your money for investment for a longer period of time. Choose short-term plans for up to three years so you can make good returns effortlessly. 

Public/Private Sector Banks

Most orthodox investors have a habit of investing their money in public-owned banks. The notion behind this is that they are more reliable and safe. Actually, the focus should be on the interest rate and not the type of ownership they hold. This is merely to create confidence within you to start investing. But this trick may not be impressive if you overlook the factor of RBL bank interest rates. 

Choose Quarterly Compound Interest Only

Quarterly compound interest rates mean the calculation of interest returns will be based upon the short duration. This makes more earnings for the investors This is a smart trick to choosing to cumulatively club the interest with higher benefits.

How to Invest in RBL Bank FD?

By simply walking into the bank’s nearest branch! You can go to the executive and get a briefing about the interest rates and the tenure you wish to choose. Besides this, you need to fill out a form with all the relevant details such as name, address, contact details and more. This will initiate the opening of your RBL FD rates in just a few working hours.

Eligibility Criteria for RBL Bank Fixed Deposits

Here are the criteria you need to ensure while opening RBL fd rates:-

  • Passport 
  • Voter ID card 
  • PAN card 
  • Driving licence 
  • Photo ration card 
  • Government ID card 
  • Senior citizen ID card

Documents Required to Avail RBL Bank FD Rate Services

Here are the minimum and basic requirements one needs to take care of for taking advantage of RBL bank FD rates:-

  • Passport
  • Voter ID card
  • PAN card
  • Driving licence
  • Photo ration card
  • Government ID card
  • Senior citizen ID card

Ending Thoughts

RBL Bank FD interest rates are not just a convenient option in today’s investment market but also confirm higher returns as compared to other financial institutes.

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FAQ’s on RBL Bank FD Rates:-

Q1. What is the short-term FD rate in RBL Bank?

Ans: Rates may be modified at the bank’s discretion. For FDs with tenures ranging from 7 days to 20 years, RBL Bank offers interest rates of 3.50–7.80% p.a. for the general public and 4.00–8.30% p.a. for senior citizens.

Q2. Can we extend FD before maturity in RBL Bank?

Ans: You can determine the FD amount for early withdrawal of funds before maturity using the FD Premature withdrawal penalty calculator.

Q3. What is the penalty on premature withdrawal of FD in RBL Bank?

Ans: When a Fixed Deposit is prematurely broken/withdrawn in full or in part, interest is to be paid at the rate in effect on the day the deposit was made for the duration for which the deposit is retained with the bank, less a penalty of 1% on that rate.

Q4. What is the minimum amount required to open and avail services of RBL FD rates?

Ans: The RD position has a 6-month minimum and a 240-month maximum term. The minimum tenure for NRE RD is 12 months. Recurrent Deposits must be at least Rs. 1,000.

Q5. Is a nomination facility available for fixed deposits with RBL Bank?

Ans: Yes, RBL fixed deposits are offered with a nomination facility.

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