Chairman Sir Philip Hampton and chief executive Stephen Hester will give evidence on Monday 11 February.
The decision follows yesterday's fine by the Financial Services Authority of £87.5m for "widespread misconduct" regarding manipulation of the Libor rate.
Tracey McDermott, director of enforcement and financial crime, said RBS also lied to the FSA by falsely attesting their Libor systems and controls were adequate.
RBS was also fined £207m by the US Commodities and Futures Trading Commission and £95m by the US Department of Justice, bringing the total fine to £390m.
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Chairman of the commission Andrew Tyrie described RBS' actions as "appalling behaviour".
He said: "Systematic rigging of important benchmarks such as Libor was pervasive throughout the banking industry over many years.
"With each successive Final Notice, further appalling behaviour has been laid bare. This was an industry-wide problem. This is the first Final Notice where the UK taxpayer is also at direct risk.
"The Commission will examine the Final Notice in detail and we will also discuss the future of RBS."
RBS is the third firm to be fined regarding Libor submissions following a fine of £59.5m for Barclays last June and of £160m for UBS in December.

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