FD interest rate up to 7.8%: RBL Bank launches digital fixed deposit

RBL Bank has launched an innovative Digital Fixed Deposit (FD) scheme available to new-to-bank customers. Now customers can open a savings account with the bank without visiting the bank branch, customers can book the Digital FD in just a few minutes, according to an RBL Bank press release.

Unique digital fixed deposit interest rate
The digital FD offers investors an interest rate of up to 7.8% and a duration of 15 months to 725 days, stated the press release.


Also read: Latest Bank Fixed Deposit (FD) Interest Rates in India for 2023

Benefits of online FD
According to the RBL Bank press release, here are the benefits of the digital FD:

• The ability to track and administer FD digitally is just one of the many advantages of the online FD, which also includes inbuilt insurance coverage and a simple method for starting a savings account.
• The investor of FD may choose to purchase insurance protection through a Hospital Daily Cash Benefit policy, which provides daily cash benefits for medical costs.
• To access their fixed deposit receipts online, customers should download the RBL Bank MoBank App.

How to open
The quick online KYC process that enables the Digital FD makes it simple and hassle-free for customers to open an FD in a matter of minutes. The three steps are:

• Providing Aadhaar linked Mobile number and PAN details
• Completing the KYC status using Video KYC and
• Funding the fixed deposit using online payment methods.

RBL Bank FD rates
RBL Bank offers interest rate 3.50% to 7.80% for regular citizens and 4% to 8.30% to senior citizens for amounts below Rs 2 crore.

Deposits below Rs.2 crore
Period of Deposit	Domestic & Flexi FD Interest Rates p.a.	Senior Citizen Interest Rates p.a.
7 days to 14 days	3.50%	4.00%
15 days to 45 days	4.00%	4.50%
46 days to 90 days	4.50%	5.00%
91 days to 180 days	4.75%	5.25%
181 days to 240 days	5.50%	6.00%
241 days to 364 days	6.05%	6.55%
365 to 452 days (12 months to less than 15 months)	7.00%	7.50%
453 to 459 days (15 months)	7.80%	8.30%
460 to 724 days (15 months 1 day to less than 725 days)	7.80%	8.30%
725 days	7.80%	8.30%
726 days to less than 24 months	7.00%	7.50%
24 months to less than 36 months	7.00%	7.50%
36 months to 60 months 1 day	7.00%	7.50%
60 months 2 days to 240 months	6.25%	6.75%
Tax Savings Fixed Deposit (60 months)	7.00%	7.50%