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RBL Recurring Deposit Interest Rates 2024
The Recurring deposit (RD) scheme offered by the RBL Bank is for the fixed Income groups to invest small amounts monthly thereby bringing closer to your dreams.
A recurring deposit is an investment cum savings option for those who want to save regularly over a certain period of time and earn a higher interest rate. It is a type of term deposit which allows one to save a fixed amount of money every month systematically. If you are familiar with SIP in Mutual Funds, RD works similarly in banking. Every month, a fixed amount of money is deducted either from a savings or a current account. And, at the end of the maturity, investors are paid back their invested money with accrued interest.
A user willing to open an Recurring Deposit account with RBL Bank can choose any amount and term according to your convenience.
RBL Bank RD Interest Rates 2024
Here's a list of RBL Bank Recurring Deposit (RD) interest rates for amount upto INR 2 crore.
| Tenure | General Rates | Senior Citizen Rates |
|---|---|---|
| 181 days to 240 days | 6.65% | 7.15% |
| 241 days to 364 days | 6.65% | 7.15% |
| 1 year but less than 2 years | 7.20% | 7.70% |
| 2 years but less than 3 years | 7.25% | 7.75% |
| 3 years to 3 years 1 day | 7.50% | 8.00% |
| 3 years 2 days to less than 5 years | 7.00% | 7.50% |
| 5 years but less than 10 years | 7.15% | 7.65% |
| 10 years but less than 20 years | 6.65% | 7.15% |
Interest rates are subject to change from time to time. Kindly contact the bank branch to know the latest RD rates
Key Features of RBL Bank RD Account
Some of the key features of the RBL Bank RD Account area:
The RBL RD account allows you to safely deposit a small fixed amount of money on a regular Basis. It is a good way for people who can invest smaller amount rather than a bulky one-time payment
The scheme offers flexible tenure. One can choose tenures which can Range from a few months to several years depending upon their Financial goals
Easy and simple investments with attractive returns
The bank RD account offers a quick liquidity option and access to the money whenever required with nominal penal charges
Talk to our investment specialist
RBL RD Calculator
A Recurring Deposit calculator is a good way of calculating maturity amount on RD. You can follow this method to estimate your RD amount on maturity.
Illustration-
| RD Calculator | INR |
|---|---|
| Monthly Deposit Amount | 500 |
| RD in month | 60 |
| Rate of Interest | 7% |
| RD Maturity Amount | INR 35,966 |
| Interest Earned | INR 5,966 |
Investment Amount:₹180,000 Interest Earned:₹22,265 Maturity Amount: ₹202,265RD Calculator
Documents to Open RBL Bank RD Account
1. Proof of Identity
- Passport
- PAN Card
- Driving license
- Voter ID card
- Government ID card
- Photo ration card
- Senior citizen ID card
2. Address Proof
- Passport
- Electricity bill
- Telephone bill
- Bank statement with Cheque
- Certificate/ ID card issued by Post Office
Why Investing in SIP is Beneficial?
Systematic Investment plan (SIP) is a way to put your money in mutual funds. Investment can be done on a periodic basis - daily, weekly, monthly or quarterly
You need to deposit a small amount of money at every interval. The minimum amount can be as low as INR 500
SIPs can help in all kinds of investment goals, whether short- or long –term, depending on the frequency of investment, funds chosen and other factors
SIPs offer flexible instalment plans of daily, weekly, monthly, quarterly, etc.
Returns can be earned better here. The longer you invest via a SIP in mutual funds, especially in an Equity Fund, the higher are the chances to earn good returns
To Cancel SIP, the investors can simply close their investment and withdraw their money without any penal charges
Best Performing SIPs to Invest 2024
Here's a list of best performing equity SIPs for an investment horizon of five years and above
Fund NAV Net Assets (Cr) Min SIP Investment 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) Motilal Oswal Multicap 35 Fund Growth ₹65.3383
↑ 0.47 ₹12,024 500 5.3 21.3 52.9 23.5 19.6 31 IDFC Infrastructure Fund Growth ₹54.06
↓ -0.08 ₹1,777 100 -3.1 3.2 49.5 30.1 31.7 50.3 Invesco India Growth Opportunities Fund Growth ₹98.42
↑ 0.33 ₹6,149 100 2 14.9 44.1 23.2 22.2 31.6 Principal Emerging Bluechip Fund Growth ₹183.316
↑ 2.03 ₹3,124 100 2.9 13.6 38.9 21.9 19.2 Franklin Build India Fund Growth ₹144.723
↑ 0.17 ₹2,825 500 -0.4 2 36.4 30.2 28.5 51.1 L&T Emerging Businesses Fund Growth ₹91.1128
↓ -0.26 ₹17,306 500 1.6 10.1 33.9 26.3 32.4 46.1 L&T India Value Fund Growth ₹112.095
↑ 0.14 ₹13,603 500 0.3 6.4 33.6 24.9 25.6 39.4 Kotak Equity Opportunities Fund Growth ₹346.895
↑ 1.73 ₹25,034 1,000 -0.5 5.1 32.8 21.2 22.5 29.3 DSP BlackRock Equity Opportunities Fund Growth ₹621.94
↑ 0.78 ₹13,804 500 -2.3 7.9 31.1 20.4 21.7 32.5 DSP BlackRock Natural Resources and New Energy Fund Growth ₹91.144
↓ -0.89 ₹1,246 500 -1.7 -1.5 30.6 19.4 23.8 31.2 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 13 Dec 24
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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