On the occasion of International Senior Citizens Day (which was on August 21, 2022), RBL Bank launched a Super Senior Citizen Fixed Deposits Product.

According to the

press release, “RBL Bank has been offering highly competitive Interest rates on all Fixed Deposits, especially in the 15 months bucket. Under the newly launched product, the Bank will be offering an additional interest rate of 0.75% p.a. on Fixed Deposits to Super Senior Citizens i.e. age group of 80 years and above. Hence taking the 15 month interest rate to 7.75% p.a.”

For the same tenure (15months), the bank offers 7 percent to general public, 7.5 percent to senior citizens. According to the website, “RBL bank Fixed Deposit rate applicable for a monthly interest option will be discounted rate over the applicable rate.”

Senior Citizen interest rate

The bank offers interest rates between 3.75 Percent to 7.50 percent for tenure ranging from 7 days to 10 years.

Super Senior Citizens who are 80 years and older are eligible for an additional interest rate of 0.75% per annum, while Senior Citizens who are 60 to under 80 years old are eligible for a rate of 0.50% per annum.

Please take note that senior and super senior citizen rates do not apply to NRE/NRO non-resident fixed deposits.