RBL Bank, on International Senior Citizens Day (August 21), launched a particular short-term fastened deposit (FD) plan for tremendous senior residents.
With the brand new product, the financial institution gives an extra rate of interest of 0.75 per cent on its 15-month FD plan to senior residents aged 80 years and above.
The further curiosity providing takes the overall return price for tremendous senior residents to 7.75 per cent.
For the identical FD plan, common account holders get a 7 per cent return, whereas senior residents are provided 7.5 per cent curiosity.
Commenting on the brand new FD, Surinder Chawla, Head – Retail Liabilities, Fee and Digital Bank, RBL Bank, said, “We are delighted to offer additional rates to our Super Senior Citizens on the occasion of International Senior Citizens Day. We value the contribution of our Senior Citizens and are launching special rates and services with an endeavour to make Banking simple and attractive.”
The FD scheme with the up to date return charges will be booked at RBL Bank’s department and on-line by way of its web site, cellular app or web banking.
RBL financial institution gives an rate of interest between 3.25 per cent and seven per cent on its FDs of Rs 2 crore or much less. The maturity interval of those FDs varies from 7 to 14 days, going as much as 10 to twenty years.
Apart from further rates of interest, senior citizen FD account holders take pleasure in a number of different advantages on their deposits at RBL financial institution.
On untimely withdrawal of funds, full or partial, the financial institution pays an rate of interest relevant on the date the deposit was positioned, and for the interval the deposit is maintained, topic to a penalty on such charges.
However, senior or tremendous senior residents are exempted from any such penalty on untimely withdrawals.
The senior or tremendous residents advantages will not be relevant on Non-Resident Fixed Deposits (NRE/NRO) plans provided by the financial institution.