Open Regular Fixed Deposit Account in India @ higher interest rates* p.a.

Regular Fixed Deposits

This fixed account will work best for you if you have a limited income and rely on interest from bank deposits to cover your monthly costs. It offers convenient investing opportunities with competitive interest rates, flexibility, and security. Anyone who wants to control spending and increase their savings over time should go with this option. It is a straightforward fixed deposit plan that requires minimum documentation and offers high returns.

Earn up to

6.00* % p.a.

Savings Account

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7.20* % p.a.

Fixed Deposits

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*T&C Apply

Key Benefits

Simple and regular investment scheme offering attractive returns.
Convenience of deposit booking for RBL Bank account holders using Internet Banking.
Select whether to receive interest every month, every three months, or upon maturity.
Avail booking period of 7 days to 10 years.
Nomination facility available.
It is possible to prematurely or partially withdraw from a term deposit.
Use the overdraft facility in exchange for a term deposit.
Book easily using online platforms, such as Internet Banking and Mobile Banking.

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When a deposit is withdrawn prematurely, interest is calculated at the rate in effect for the time that the deposit has actually been held by the bank, subject to 1% penalty.
Simple interest will be used to calculate interest at maturity for term deposits with a duration less than 181 days.
The interest on term deposits will be paid out monthly at a discounted rate determined by the current rates.
According to the current income tax regulations, tax is withheld at the source.
On resident time deposits with interest income of at least Rs. 10,000 during the financial year, TDS at a higher rate of 20% will be charged in the absence of PAN information. 6. FDs can only be reserved through online means for a maximum of 10 years.
FDs can only be reserved through online means for a maximum of 10 years.

FAQs

What is a Fixed Deposit, exactly?

An investing strategy called a fixed deposit offers you guaranteed earnings over a predetermined period of time.

What is the minimum fixed deposit investment term?

An account for a fixed deposit can be opened with a minimum period of seven days.

Can I determine the interest on an FD on my own?

The online FD calculator can be used to compute FD interest on your own.

What is the minimum amount that I can deposit into my FD account?

The minimum amount varies depending on the bank. It can be as low as INR 5,000. Also note: Higher the invested amount, higher will be the interest returns.

How can my investment in a fixed deposit earn me interest?

You can opt to receive interest payments on your fixed deposit on a monthly or quarterly basis, or you can decide to reinvest the interest earnings for higher returns when the FD matures.

Can I request a loan backed by a fixed deposit?

You can borrow money against your fixed deposit investment and continue to receive interest on it, thus the answer is yes.

How secure is my money in an FD?

One of the safest financial options is to invest in fixed deposits. An FD allows you to keep your money safe while earning interest returns.

Is there a nomination option for fixed deposits?

Banks provide FD investors with a nomination feature that takes unforeseen circumstances into account.

If I need money right now, can I prematurely withdraw from the Tax Saver Fixed Deposit?

A tax-saving term deposit has a 5-year lock-in period, so you cannot withdraw money from it early.

What is the longest time I can have an FD open?

The maximum time you can invest in an FD is 10 years.

What advantages can FD investments offer?

There are several advantages to investing in FDs, including guaranteed returns, security for the deposited money, the ability to take out a loan against an FD, tax exemption from tax-saving FDs, and simple withdrawal and reinvestment of FD money at maturity.

What is the highest exemption I am permitted to receive under tax-saving FDs?

You are eligible for a maximum tax exemption of INR 1.5 lakh through tax-saving FDs.

Is it simple to open an FD account online?

Opening an online fixed-deposit account is simple and painless, and just a few documents are needed. You can apply for an FD online without even going to a bank location.

Are senior folks eligible for additional perks while making fixed deposits?

Senior persons who invest in fixed-rate debt (FDs) are eligible for an additional 0.5% annual interest return.

Is it possible to take money out of fixed deposits before they mature? Are there any penalties or fees?

You are permitted to early withdraw from your FD. You will, however, be responsible for the early withdrawal fee for an FD. An early withdrawal from a tax-benefit FD is not permitted. In the case of senior citizens' FD, there are no penalties for early withdrawal.

How can I get the most of my investment in a fixed deposit?

Evaluate fixed deposit rates for various tenures at both the same bank and other banks. For improved returns, you can invest in a cumulative FD.