International Senior Citizens Day: RBL Bank debuts particular FD with 7.75% return
In honour of International Senior Citizens Day to be celebrated tomorrow twenty first August, RBL Bank has revealed that it has launched a Super Senior Citizen Fixed Deposits Product.
On all Fixed Deposits, particularly these with a maturity of 15 months, RBL Bank has been offering rates of interest which might be far more enticing for senior residents. In accordance with the lately launched product, the financial institution will present Super Senior Citizens or those that are 80 years of age or extra, with an extra rate of interest of 0.75% each year on fastened deposits. Consequently, on fastened deposits maturing in 15 months, RBL Bank is now providing an rate of interest of seven.75% per 12 months. Super Senior Citizens can e-book this fastened deposit by way of RBL Bank web site, RBL MoBank App, on-line banking, Contact Centre and thru free doorstep banking providers.
Surinder Chawla, Head – Retail Liabilities, Fee and Digital Bank, RBL Bank, stated, “We are delighted to supply extra charges to our Super Senior Citizens on the event of International Senior Citizens day. We worth the contribution of our Senior Citizens and are launching particular charges and providers with an endeavour to make Banking easy and enticing.”
RBL Bank is currently offering an interest rate ranging from 3.75% to 6.25% for senior citizens on fixed deposits of less than ₹2 Cr maturing in 7 days to 240 months. On the occasion of International Senior Citizens Day, RBL Bank will now offer an additional interest rate of 0.25% in addition to the existing additional rate of 0.50%, for a total additional interest rate benefit of 0.75% on fixed deposits with a 15-month maturity period. Previously, RBL Bank had promised a maximum interest rate of 7.50% for senior citizens. Senior citizens will now receive 7.75% interest on deposits of 15 months, which is an additional 0.75% over the standard rate of 7.00%.
RBL Bank has mentioned on its website that “Senior Citizens (60 years to less than 80 years) are eligible for additional interest rate of 0.50% p.a. and Super Senior Citizens (80 years and above) are eligible for additional interest rate of 0.75% p.a. Senior Citizens/Super Senior Citizens rates are not applicable on Non Resident Fixed Deposits (NRE/NRO).”
Other banks together with SBI, HDFC, ICICI, and IDBI Bank additionally present particular fastened deposit schemes for older of us. For aged individuals, HDFC Bank gives the Senior Citizen Care FD scheme, below which the financial institution ensures senior residents an extra premium of 0.25% over and above the prevailing premium of 0.50% on fastened deposits of lower than 5 crores maturing in 5 (5) years 1 day to 10 years. This scheme is legitimate until thirtieth September 2022, as per HDFC Bank.
In its ICICI Bank Golden Years FD, the financial institution gives aged individuals with an extra rate of interest of 0.20% over and above the prevailing extra fee of 0.50% yearly. The ICICI Bank Golden Years FD has a time period of 5 years and 1 day, as much as 10 years, and the programme is energetic until October 07th, 2022. Senior people can even reap the benefits of IDBI Bank’s Naman Senior Citizen Deposit, which supplies an extra 0.25% in curiosity over and above the prevailing 0.50% annual extra fee, for a complete of 0.75% above the cardboard fee. The IDBI Naman Senior Citizen Deposit is offered with phrases starting from greater than a 12 months to 10 years, and the programme will probably be in power until September 30, 2022. The largest lender within the nation, State Bank of India (SBI), gives the SBI Wecare Deposit Scheme, which has a tenure of 5 years and extra. Senior residents will get an extra premium of 30 bps on the SBI Wecare Deposit along with the present 50 bps. SBI Wecare Deposit Scheme is legitimate until thirtieth September 2022. Currently, older adults could reap the benefits of the above-discussed particular fastened deposit plans amid rising rates of interest.
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