Home / Money / Personal Finance /  RBL Bank introduces special FD rates with up to 8.3% return

RBL Bank has increased special tenor fixed deposit (FD) rates, effective 25 November, with the maximum rate now set at 8.05% for senior citizens. For non-senior citizens, the maximum FD rate stands at 7.55% for the 453 to 459 days, 460 to 724 days and 725 days tenures. However, rates for super senior citizens have been fixed at 8.30% for the same tenure.

For the tenure of 365 to 452 days and 726 to 24 months, the rates for senior citizens have been fixed at 7.50%. Similarly, for non-senior citizens, the FD rate stands at 7% for the same tenor.

FDs with more than 60 months of tenure will fetch a 6.75% return for senior citizens, while FDs will fetch 6.25% for non-senior citizens. On the other hand, super-senior citizens will fetch 7% returns. The company allows you to start FDs of tenures ranging from 7 days to 240 months.

Let's have a look at the table

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* Senior citizen and super citizen rates are applicable only for domestic deposits.

Besides, on Tuesday, Bajaj Finance Ltd., a non-banking finance company (NBFC), introduced a new 39 months special tenor fixed deposit (FD) scheme with a rate of 7.85% for senior citizens. For non-senior citizens, the FD rate stands at 7.60% for the 39 months tenor. However, the highest rate for senior citizens is fixed at 7.95% for 44 months. For non-senior citizens, the highest FD rate stands at 7.70% for the same tenor (44 months). A 12-23 months cumulative FD will fetch 6.80%, while a 15-month special FD will get 6.95% (for non-senior citizens). On the other hand, a 12-23 months cumulative FD for senior citizens will fetch 7.05%, while a 15-month special FD will get 7.20% (for senior citizens). The company allows you to start FDs of tenures ranging from 12 to 60 months.

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