RBL Domestic Term Deposits FD
The Rbl Bank Domestic Term Deposits tenure ranges from min 7 Days to max 20 Year . The ROI ranges from 3.25% to 7.00 % for the general public. The lock-in period for this scheme is 5 Year
Rbl Bank Domestic Term Deposits Scheme for amount ranging from ₹ 10,000 to ₹ 2.0 Cr
The rate of interest for deposited amount ranging from ₹ 10,000 to ₹ 2.0 Cr is as below
Interest Rate for General Public (p.a.)
Interest Rates for Senior Citizens (p.a.)
|7 Days Upto 14 Days|
|15 Days Upto 1 Months 15 Days|
|1 Months 16 Days Upto 3 Months|
|3 Months 1 Days Upto 6 Months|
|6 Months 1 Days Upto 8 Months|
|8 Months 1 Days Upto 12 Months 4 Days|
|1 Year Upto 1 Year 3 Months 1 Days|
|1 Year 3 Months 1 Days Upto 2 Year|
|2 Year Upto 3 Year|
|3 Year Upto 5 Year 1 Days|
|5 Year 1 Days Upto|
|10 Year 2 Days Upto 20 Year|
Key features of Rbl Bank Domestic Term Deposits Scheme
Summary of Rbl Bank Domestic Term Deposits Scheme features :
|Mutual Fund Schemes|
Domestic Term Deposits
|Loan Against FD|
7 Days to 20 Year
3.25% to 7.00 %
3.75% to 7.50 %
Rs.10,000 to Rs.200,00000
*Interest rates are subject to change at the discretion of the bank. These Interest rates are with effect from 10 November 2021.
Cutting on additional consumption today to pile up funds for future consumption is a tried and trusted method to secure yourself financially. However, just saving it won't be effective enough, as you will have to multiply the savings too. That's where domestic term deposits come into play. RBL bank, earlier known by the name Ratnakar Bank provides several investment instruments to help you grow financially, and RBL domestic term deposits are one among them. With competitive interest rates ranging from 3.25% to 7%, RBL domestic term deposit scheme paves the way to attract more and more investors. You don't need to start your investment journey with huge funds, as RBL allows you to begin investing with just INR 1000. At maximum, you can invest INR 2 crore in RBL bank fixed deposits to enjoy the benefits of higher returns.
Domestic term deposit schemes fall in the category of safest investment instruments. RBL bank has kept the eligibility criteria bare minimum to ensure that a major chunk of the investors can rely on RBL domestic term deposit to get financial stability and park their hard-earned money.
However, you must ensure that you meet the eligibility criteria set by the bank to become an investor in RBL Bank Fixed Deposit. To begin your journey with RBL fixed deposit, you must cope with the below-depicted eligibility criteria.
- Indian Residents and Non-Indian Residents are eligible to apply
- Sole proprietorship firms
- HUF: Hindu Undivided Family
- Trust accounts
- Partnership firms
If you belong to any of the categories mentioned, you can easily apply for RBL domestic term deposit FD.
Documents Required to Apply for RBL Domestic Term Deposit FD
To apply for the RBL domestic term deposit FD, an investor requires to furnish the following set of documents:
- Passport-size photos
- KYC Documents, including PAN and Aadhaar Card
- Valid Driving Licence
- Voter Identity Card
Documents Required for Partnerships
If you belong to the partnership firm category, you will need to prepare the depicted documents beforehand:
- Certificate of Incorporation of the Firm
- Identity Proof of the Authorised Signatory
- Partnership Deed
Documents Required for Hindu Undivided Families
If the investor belongs to the HUF or Hindu Undivided Family category, he/she will have to submit the following documents:
- Self-attested copy of the PAN Card
- HUF's Declaration Deed
- Bank Statement for the last six months
The following key attractions of the RBL Domestic Term Deposits Scheme make the RBL fixed deposit more captivating for investors:
Fixed Interest Rate: Based upon the investment time frame, i.e. 7 days to 20 years, you get benefits of a fixed interest rate ranging from 3.25% to 7%. A fixed rate ensures your investment amount is secure from market fluctuations.
Interest Payment: You get to choose the period of your interest payment, i.e. once a year, twice a year, quarterly or every month. Additionally, you can get your interest returns once your FD investment tenure ends.
Predetermined Investment Tenures: The RBL bank allows investors to choose the investment tenure as per will. If you want to invest for a prolonged period, you will end up earning higher returns.
Insurance on Term Deposits: As per the Reserve Bank of India guidelines, when an investor deposits INR 5,00,000, the bank will have to ensure the invested amount and the interest amount. If the bank fails to do so, the bank's licence will be cancelled.
Rollover Option: The RBL bank aims to offer the utmost customer satisfaction. Adhering to the same bank provides investors with the option of automatic reinvestment once the tenure ends.
Features & Benefits of RBL Domestic Term Deposits FD
With RBL domestic term deposit schemes, you unlock the following features and benefits:
- Attractive interest rates range from 3.25% per annum to 7% per annum, based on the investment tenure.
- Flexible investment tenure starting from 7 days up to 20 years.
- Start investing in RBL's term deposit scheme with a minimum deposit amount of INR 1000.
- No specified limit on the investment amount for the maximum term deposit
- Senior citizens get an additional benefit in terms of interest rate. RBL bank offers an additional 0.50% interest on the applicable FD rate to senior citizens.
- Flexible interest payment options, i.e., every month, once a year, twice a year or quarterly.
- Partial money withdrawals are permissible after paying the applicable charges.
- The availability of nomination facility and rollover
How to Apply for RBL Bank Domestic Term Deposits FD?
RBL bank allows you to open an RBL fixed deposit account online or offline. You can either start investing through the official website or visit the nearest bank branch. Both ways, you can enjoy the benefits of the RBL Domestic Term Deposits Scheme.
Follow the mentioned step-by-step procedure to apply for RBL bank term deposit FD:
- Initially, visit the official bank portal i.e.rblbank.com.
- Click on the menu section available at the top-left corner of the homepage to continue with the process.
- Choose the personal banking option and further click on fixed deposits.
- A drop-down menu will appear on the screen enlisting Regular, Tax-saving, Senior Citizen, Recurring, as well as Flexi Fixed deposits.
- Choose the investment option that best suits your financial goals. You can also click the ‘Read more’ option to explore the scheme.
- Tap the apply button and enter the requested information, including name, address, contact details, etc.
- Generate OTP to authenticate your identity.
- Finally, click on the "call now" option after sufficing the form with all the required information.
As soon as you enter the information, the bank representative will contact you for further guidance.
You can always rely on the traditional mode if you don't wish to count on the online mode. All you have to do is, visit the nearest bank branch and get in touch with the executive. Highlight your queries and financial objectives with the executive. You will get guidance about the best suitable one and collect the form for the same. Fill out the form, provide the photocopies of the required documents and specify the investment amount.
Once you submit the form along with the required paperwork, your investment with RBL bank will begin.
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What is RBL Domestic Term Deposit?
RBL Domestic Term Deposit is a fixed deposit scheme which allows applicants to start investing through their account for specified investment tenure and secure interest on the same.
Is RBL Bank Domestic Term Deposits FD tax-free?
If the interest earned is less than or equal to ₹ 40,000 (₹ 50,000 in the case of senior citizens), then there will be no TDS deduction. If the interests earned cross this specified limit, the interest secured fall in the category of taxable income.
Is it good to invest in RBL Bank Domestic Term Deposit?
Yes, if you are looking forward to making your hard-earned money work for you, and don’t want to bear any risk, count on investing in RBL Bank Domestic Term Deposits.
What is the minimum tenure for RBL Bank Domestic Term Deposits FD?
The minimum tenure for RBL bank domestic term deposit FD is 7 days. However, RBL bank offered flexible investment tenure ranging from 7 days to 20 years.