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Why RBL Bank’s Senior Citizens FD is an Ideal Choice?

Fixed Deposits have always been a trusted way to grow savings, especially for senior citizens who seek safety, stability, and peace of mind. At RBL Bank, we understand these needs deeply. That’s why our Senior Citizens FD is designed to offer more than just returns.

Higher Interest Rates for Senior Citizens

One of the most appealing features of the RBL Bank Senior Citizens FD is the higher interest rate offered compared to regular fixed deposits. Senior citizens enjoy an additional 0.50%* p.a. interest (60 to less than 80 years) & Super Senior Citizens 0.75%* p.a. interest (80 years and above) on their FD investments, enhancing the overall returns. This benefit makes a significant difference in long-term savings, helping senior investors maximise their income with minimal risk.

Convenient and Flexible Booking Options

RBL Bank offers multiple channels for booking Senior Citizens FD:

  • MyBank App
  • Internet Banking
  • RBL Cares Chatbot
  • Call your Relationship Manager
  • Or Visit an RBL Bank Branch

These flexibilities cater to varying preferences and ensure a seamless experience regardless of one’s comfort with technology.

Overdraft Facility for Financial Flexibility

Senior Citizens can avail an overdraft (OD) facility against up to 90% of the principal amount of their Fixed Deposit. This facility provides financial flexibility by allowing access to funds without breaking the deposit, thus preserving the benefits of an FD while addressing urgent cash needs.

Monthly Interest Payouts for Regular Income

For senior citizens who rely on their investments for monthly expenses, RBL Bank offers the option of monthly interest payouts on their Fixed Deposits. This feature provides a steady and reliable source of income, allowing retirees to plan their finances efficiently without dipping into the principal amount. Such regular cash flow can be crucial in managing day-to-day expenses, medical costs, or other financial commitments.

No Penalty on Premature or Partial Withdrawal

Life is unpredictable, and emergencies may arise. RBL Bank recognises this by offering a no-penalty policy on premature or partial withdrawals from Senior Citizens FDs. This policy provides peace of mind, knowing that if unforeseen expenses occur, senior citizens can access their funds without worrying about additional charges or loss of interest benefits.

Conclusion

RBL Bank Senior Citizens Fixed Deposit is an ideal investment product designed to provide higher returns, convenience, and financial security to senior citizens. With benefits such as 0.50% & 0.75% extra interest, flexible booking channels, monthly interest payouts, an overdraft facility, and no penalty on premature withdrawals, this FD stands out as a trusted and customer-friendly option. For senior citizens looking to safeguard their retirement savings while earning attractive returns, RBL Bank Senior Citizens FD is undoubtedly worth considering.


Disclaimer:
Articles published on the website are merely indicative and suggestive in nature and do not amount to solicitation. The contents do not guarantee the desired returns and/or results. Reader is advised to exercise discretion and consult independent advisors for achieving desired result.

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