Royal Bank of Scotland was established in India in 1921 providing banking and financial services to the customers across the globe. It is providing competitive returns on the fixed deposit scheme of varying tenures.
For the holding period of less than one year, Royal Bank of Scotland offers rate of interest between 3 percent and 7.25 percent per annum. For the holding period of 7-14 days, the rate of interest is calculated at 3% per annum, and it eventually gets increased to 5.6% per annum for the holding period of fifteen days to one month. The highest interest rate is 7.25% per annum. It can be availed for the holding period of three months to one year.
Furthermore, the rate of interest is increased by 0.65% to 6.25% per annum for the deposit period between 31-60 days and is further enhanced by 0.5% to 6.75% per annum for the holding period of 2-3 months.
Moreover, there are four more tenures present between three months to one year which is categorized under 3-5 months, five months to 187 days, 188 days to nine months and nine months to one year. For all these mentioned tenures, the rate of interest is levied at 7%, 7.10%, 7.10% and 7.25% per annum respectively.
All the tenures above one year come under the category of Royal Bank of Scotland medium and long term fixed deposit scheme. The bank offers a standard interest rate of 7.25% per annum. However, the longest holding period for a fixed deposit product from the bank can go up to five years and more.
Unlike other financial institutions, Royal Bank of Scotland offers the senior citizens with an additional 0.25% on all the FD products.