RBL Bank introduces ACE Fixed Deposit, offering up to 8.50% Interest Rate

RBL Bank, one of India's leading private sector bank in India - today announced the launch of its new Fixed Deposit - ACE. In a significant move to enhance customer offerings and reward long-term commitment, the Bank is offering 20 bps higher rate of interest, over and above the regular callable deposits (Fixed Deposit which allows premature withdrawal), with senior citizens and super senior citizens getting 50 bps and 75 bps higher interest rate respectively.

With a minimum deposit value of Rs 50 Lakh and a maximum deposit value of less than Rs 2 Crore, customers can choose a tenure ranging from 12 to 240 months and enjoy the benefits on maturity, allowing them to align their investment strategy with long-term financial goals. The product is available to both resident and non-resident Indians, allowing a wider audience to benefit from this exclusive offering.

Deepak Gaddhyan, Branch & Business Banking Head, RBL Bank, said, "Traditionally, a higher interest proposition is offered for non-callable deposits with a value of Rs. 2 Crore and above. However, at RBL Bank we believe in empowering our customers and wanted to extend this offering to a wider range of client segments. This innovative product offers a higher interest rate compared to regular Fixed Deposit, enabling customers to benefit from the power of compounding to meet their financial aspirations."

Shares of RBL Bank Limited was last trading in BSE at Rs. 169.10 as compared to the previous close of Rs. 168.60. The total number of shares traded during the day was 1066735 in over 7483 trades.

The stock hit an intraday high of Rs. 171.20 and intraday low of 167.55. The net turnover during the day was Rs. 180875311.00.

Source : Equity Bulls

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