RBL Bank, a private sector bank in India, has revised its fixed deposit (FD) interest rates. The changes are effective from October 1, 2021. According to the new rates, the bank now offers interest rates ranging from 2.75% to 6.15% for various tenor options.
For example, the FD interest rates for a 7-day deposit period are now 2.75%, while 15-day deposits earn an interest rate of 3.15%. The highest interest rate of 6.15% is applicable for a 444-day deposit period.
RBL Bank’s revised FD rates are competitive with other major banks in India. For instance, the bank now offers a higher interest rate than ICICI Bank and Axis Bank for longer tenure deposits.
It’s essential for individuals to check the latest FD rates and calculate the interest earnings before opening a deposit account. With RBL Bank’s revised FD rates, customers can earn higher returns on their fixed deposits, making it an attractive option for investors seeking stable returns.