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  #1  
September 30th, 2016, 10:10 AM
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Ratnakar Bank NRE FD Rates

I recently opened an account in the RBL Bank Limited and searching for some details related to this bank. Can you please provide me Ratnakar Bank NRE FD Rates for different categories along with time and interest rate also provide me address and contact details of this bank?
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  #2  
September 30th, 2016, 11:30 AM
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Join Date: Mar 2012
Re: Ratnakar Bank NRE FD Rates

RBL Bank Limited is a scheduled commercial bank headquartered in the Kolhapur region of Maharashtra.

It was founded in August 1943, RBL is one of the oldest private sector banks in India

NRE or Non-Resident External Rupee Account is maintained by non-resident Indian (NRI) in Indian Rupees.

This account is meant for foreign exchange earned outside India and transferred to India. Interest earned is tax-free. They are freely repatriable (money can be transferred without any restriction)

Rates:

RBL Bank offers FD schemes for deposit amounts of Rs.10,000 and above and for tenures of very-short term to medium and long-term i.e. 5 years and above.

Short-Term Fixed Deposit Rates

The minimum duration of the fixed deposit period under the bank’s short-term schemes is 7 days and the maximum duration is 364 days.

For a period of

7 days to 45 days, the base rate is 5.50% p.a..
46-90 days, the rate of return is increased by 2.00% to become 7.50% p.a..

For the third bracket of an increased term of 91-180 days, the rate of return increases only by 0.50% bringing the interest payable on this scheme to 8.00% p.a..

For the fourth and fifth brackets, the terms are 181-240 days and 241-364 days respectively. In both the brackets, there is an increase of 0.25% from the previous bracket.

In the fourth bracket thus, the interest rate is 8.25% p.a. and in the fifth bracket, the highest rate of return is achieved at 8.50% p.a..

Medium and Long-Term Fixed Deposit Rates

The minimum duration of the fixed deposits under this category is one year. Starting off with a return rate of 8.85% p.a. for periods up to 24 months, the medium and long-term deposits gain an increase of 0.35% over the highest rate available under short-term Deposits.

For a period of 24 months till 36 months, the rate of return increases by 0.25% to 9.10%. p.a. For deposit periods up to 60 months the rate is 9.00% p.a.. The highest rate of return, within this period, is thus achieved at 9.10% p.a.

Senior Citizens Fixed Deposit Rates by RBL Bank

Over and above the rack rates mentioned above for the general public, senior citizens can avail a 0.50% higher rate of return.

This put the interest rates on FD scheme for senior citizens in the range of 6% p.a. to 9.60% p.a. These senior citizen rates are not applicable on NRO deposits.

Contact:

RBL Bank Ltd.
Mahavir,
Shri Shahu Market Yard,
Kolhapur - 416005. Maharashtra State, India.

Call us at: 0231 2650981 to 984
Fax: 0231 2657386


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