RBL Bank Savings Account

RBL Bank savings accounts are inclusive of the basic benefits such as a debit card for cashless transactions, a cheque book, an internet banking login and password, and a mobile banking login and password.

Most banks offer a variety of savings bank account features to appeal to a diverse audience. RBL Bank provides customized solutions that provide consumers with a variety of privileges and rewards. The user can evaluate and select the savings account deposit based on eligibility and minimum balance requirements.

RBL Bank Savings Account Interest Rate

Here is the table of the RBL Bank savings interest rates-

RBL Digital Savings Account Balance

RBL Saving Account Interest Rate

Rs.1 lakh

4.25%

Rs. 1 lakh - Rs. 10 lakh

5.50%

Rs. 10 lakhs - Rs. 25 lakhs

6.00%

Rs. 25 lakhs - Rs. 1 crore

6.25%

Rs. 1 crore - Rs. 3 crores

6.25%

Rs. 3 crores - Rs. 5 crores

6.25%

Rs. 5 crores - Rs. 7.5 crores

6.25%

Rs. 7.5 crores - Rs. 10 crores

6.10%

Rs. 10 crores - Rs. 50 crores

6.10%

Rs. 50 crores - Rs. 100 crores

5.25%

Rs. 100 crores - Rs. 200 crores

6.00%

Rs. 200 crores - Rs. 250 crores

4.00%

Rs. 250 crores - Rs. 500 crores

4.00%

More than Rs. 500 crores

4.50%

Characteristics of the RBL Bank savings account

  • Excess cash in hand earns a nominal interest rate when deposited into a savings account.
  • Apart from demand accounts and cash, one of the most liquid investments.
  • Simple access to finances.
  • Withdrawals and deposits are both simple.

How to Apply for the RBL Bank Savings Account?

The majority of RBL savings accounts can now be opened online. By visiting the RBL website and following a few simple steps, you can open an RBL savings account online.

Step 1: Go to the bank's website and select the savings account option.

Step 2: Under the savings account, select the 'Apply Now' option.

Step 3: You will be transported to a new website; on the right side, click on 'Create a savings account.'

Step 4: Enter your Aadhaar and PAN card information.

Step 5: Choose the type of savings account you want to start.

Step 6: Update your personal information.

Step 7: Your account will be opened once the bank has successfully verified your identity.

Applicants are encouraged to keep all of their KYC documents digitized in order to expedite the account opening procedure.

 

Who is Eligible to open Savings Accounts with RBL Bank?

  • To open a savings account, the applicant needs to be at least 18 years of age and also a resident Indian.
  • The Executive Plus Account requires a monthly net salary of Rs.50,000.
  • Contact RBL bank for detailed information on eligibility criteria and income requirements for other savings accounts.

Charges of the RBL Bank Savings Account

Minimum Balance

Rs. 25, 000

Card Replacement Charge

Rs. 50

International Debit Card Use

Rs. 25

ECS Return

Rs. 200 

Cheque Return

Rs. 100

Stop Payment

Rs. 50

Documents Required to Open the Account

When applying for an RBL Bank Savings account, an applicant must submit the following documents-

  • Two passport-size pictures and a fully completed application form
  • Valid address and ID proof, such as a passport, PAN card, Voter ID, driving license, and Aadhaar card.
  • Hindu Undivided Families must submit a Karta declaration, a PAN card, form 60, and a specified HUF letter signed by all holders.
  • Salaried employees may be required to present a genuine authorization letter from their employer as well as salary stubs.

Types of RBL Savings Accounts

Following are the types of savings account that can be opened with RBL Bank-

1) Basic Savings Account

This is a 'Zero Amount Savings Account,' which means you don't have to keep a monthly or average monthly balance. Furthermore, there are no fees if you do not keep a certain amount of bank balance.

This account is accessible from any RBL branch in India. Funds can be transferred through NEFT and RTGS. You will also receive a free RuPay Card. This Debit Card has a cash withdrawal limit of Rs. 30,000 and an ATM withdrawal limit of Rs. 50,000. The account allows you unlimited free ATM transactions at RBL Bank ATMs.

 

2) Prime Savings Account

Additional perks of the Prime Savings Account include greater interest rates, internet, and mobile banking, unlimited ATM transactions, and a Titanium MasterCard Debit Card.

With current banking tools and a wide range of transactions, the account makes your life easier. You can open this account on your own or with someone else, such as a sibling, spouse, or minor kid.

3) Digital Savings Account

All you need to start a Digital Savings Account is your PAN number and Aadhaar number. You can open an account online and enjoy seamless banking. The application process is paperless and immediate.

You will benefit from more convenient banking and better interest rates. There are also no charges for non-balance maintenance if you make a Recurring Deposit (RD) or Systematic Investment Plan (SIP) of at least Rs. 2000.

4) Prime Edge Savings Account

The Prime Edge Savings Account is preferable to a standard savings account. If you choose services from a broad network of 6,000 hospitals in India, you can enjoy discounts on hospitalization and medical advice.

It's similar to a Health Savings Account. It is tailored to those who face significant healthcare bills. As a result, if you have regular or significant medical bills, opening Savings Account with RBL is ideal.

5) Advantage Savings Account

With effect from October 2019, the annual interest rate is 6.75% for balances between Rs. 3 crores and Rs. 5 crores or balances between Rs. 10 lacs and up to Rs. 3 crores.

The interest rate is 6% and 5% for balances between Rs. 1 lac and Rs. 10 lacs, respectively, and up to Rs. 5 lacs.

6) Women's First Savings Account

The Women's First Savings Account, as the name implies, is only offered to female account holders. The account includes a year-long discount plan as well as many healthcare discounts.

If the account is for a minor female kid, you will receive a higher interest rate, financial value-adds, an exclusive Woman's First Debit Card, and the option of a zero-balance account. 

This savings account is open to any woman over the age of 18 who is a resident Indian. The required minimum balance is Rs. 10,000.

7) Senior Citizen Savings Account

The Seniors First Savings Account makes it easier to enjoy your retirement years by providing interest on deposits. You can benefit from increased interest rates as well as health benefits. 

You'll also get a Titanium Debit Card. It is possible to apply for this RBL Savings Account online. With a single SMS, you can generate a Debit Card PIN and an Internet Banking PIN.

8) Executive Salary Account

This is a Salary Account as well as a Savings Account. This is why it is also a zero-balance account, allowing you to withdraw/use all of your profits.

The account costs just for services, which works in your favor and saves you money. Employers can contact the bank to establish an RBL Executive Salary Account for their staff.

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