RBL Bank revises retail term deposit interest rates: now get up to 7.25%
RBL Bank, a private sector lender, has changed interest rates on term deposits under ₹2 crores. On October 1, 2022, the new rates will come into effect, according to the bank’s official website. The impact of the RBI’s repo rate hike to 5.90%, which was announced on Friday, led to RBL Bank’s interest rate hike today. RBL Bank will now offer a maximum interest rate of 7.75% for the elderly and 7.25% for the general public on deposits maturing in 725 days, which is above retail inflation by 7% determined by the consumer price index (CPI), which skyrocketed in August.