The RBL Bank Limited was formerly known as Ratnakar Bank Limited. It is a scheduled commercial bank with headquarters based in Kolhapur, Maharashtra. RBL was founded in 1943 and that makes it one of the oldest private sector banks in the country.
The current holdings of RBL amount to over INR 20,000 crore. RBL services five critical verticals – Commercial Banking, Corporate & Institutional Banking, Agri & Development Banking, Financial Markets, and Retail Banking. Some of the investors in RBL are Norwest Venture Partners India, World Bank Body, Emerging India Fund and many more.
RBL offers various fixed deposit schemes depending on the amount invested. The interest rates are highly competitive and senior citizen benefits are also the best in the industry.
RBL also services the Non-Resident sector with tenors ranging from 12 months to 240 months. The Ratna Tax Saving scheme also provides lucrative interest rates for up to 120 months. Additional .50% interest rate is applicable to senior citizens for domestic deposits, but not applicable in case of NRE and NRO deposits.
Saving account deposit rates:
|Balance|| Rate of Interest|
|Upto 1 lakh||5.1|
|10 lakh – 5 crore||7.1|
Domestic Fixed deposit interest rates:
|Maturity period||Interest rate below 1 crore|
|Interest Rate 1-3 crore|
|Interest rate 3-5 crore|
Interest rate on NRE deposit:
|Maturity period||Deposit below 1 crore||For deposit 1-3 crore||For deposit 3-5 crore|
Ratna Tax saver Deposit:
Table Updated: 29 June, 2016