RBL Bank launches Digital Fixed Deposit (FD) scheme - check out details

Private sector lender RBL Bank has announced the launch of the Digital Fixed Deposit (FD) scheme for new-to-bank customers. This scheme will enable customers to book the Digital FD within minutes without having to visit a branch or open a savings account with the bank.

“We are delighted to offer our Digital Fixed Deposit product to New-to-Bank customers. This unique offering is a part of our new-age banking solutions that seamlessly integrates traditional and digital channels. The online Fixed Deposit is a secure and reliable investment avenue that will enable customers to get better returns and build savings over a period of time,” said Deepak Gaddhyan, Head of Branch & Business Banking, RBL Bank.

RBL Bank’s digital FD scheme benefits

The online FD comes with several additional benefits, such as embedded insurance cover, a seamless savings account opening process, and the ability to track and manage FD digitally.

-The FD holders can opt for insurance coverage under a Hospital Daily Cash Benefit policy which offers daily cash benefits for hospital expenses.

-Customers can download RBL Bank MoBank App for viewing their fixed deposit receipts online.

- Customers can open a digital FD account in minutes

-The Digital FD is enabled through a quick online KYC process, making it easy and hassle-free for customers to open an FD within minutes.

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RBL Bank’s digital FD scheme interest rate and tenure

As per the scheme, customers will get an interest rate on digital FD of up to 7.8 per cent for a tenure of 15 months to 725 days.

How to invest in RBL Bank's digital FD?

The Digital FD is enabled through a quick online Know Your Customer (KYC) process. Here are steps to enable digital FD

(i) Providing Aadhaar-linked Mobile number and PAN details

(ii) completing the KYC status using Video KYC

(iii) funding the fixed deposit using online payment methods.

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