RBL Bank has launched Smart Deposit Scheme. The special thing is that this is a flexible fixed deposit scheme which gives customers the facility of regular monthly savings and top-up. The special thing is that up to 8.30 percent interest is being received in this scheme.
Mumbai. After the continuous increase in interest rates, banks have also increased the interest rate on various savings schemes. Especially to woo the customers, many banks are offering more than 8% interest on fixed deposits. In this series, private sector RBL Bank (RBL Bank New FD Plan) has started a smart deposit scheme. The special thing is that this is a flexible fixed deposit scheme which gives customers the facility of regular monthly savings and top-up.
The bank told that customers can invest in this scheme with less than ₹ 1,000 and can also add more money to the same deposit. As per the information available on the bank website, “Smart Deposit Scheme is a flexible fixed deposit offered by the bank for the convenience of its depositors.
Interest will be available up to 8.30 percent
The benefit of compound interest is available in this special FD scheme of RBL Bank. At the same time, the interest rate will remain the same for both the monthly savings and the top-up amount continued till maturity. The bank said that customers can earn better interest rates with the Smart Deposit scheme.
The scheme is offering 7.55% interest to regular customers, 8.05% to senior citizens and 8.30% for super senior FDs of 15 months duration. Customers can top-up with a minimum amount of Rs.50. At the same time, the maximum duration of this scheme can be 60 months and minimum 6 months.
Features of Flexible FD
According to the information given on the bank’s website, the smart deposit scheme provides easy investment with attractive returns. In this FD, easy payment options can be availed from the savings account, as well as nomination facility is also available. The tenure of FDs ranges from 6 months to 5 years and the minimum investment starts from Rs.1,000 to a maximum of Rs.5,00,000.
