RBL Bank has revised its fixed deposit interest rates, effective December 15. The interest rates range from 4% to 8.5% per annum. Senior citizens can earn the highest interest rate of 8.5% on deposits with a 500-day tenure, while general citizens can earn 8% on the same tenure. For regular depositors, interest rates range from 3.5% to 7.8% depending on the tenure. For example, general citizens can earn 7.8% on deposits with tenures between 453 days to 499 days or 501 days to 24 months. Senior citizens are offered an extra 50 basis points. The bank also offers special rates for selected tenures. For deposits with tenures below 181 days, interest will be calculated as simple interest. The minimum tenure for domestic and NRO fixed deposits is 7 days, and no interest is payable for deposits withdrawn prematurely within 7 days of deposit.
