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.

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

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.

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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

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