RBL Bank Savings Accounts

RBL Bank Savings Account helps you to deposit and withdraw funds, transfer funds, pay bills, make smart investments, and a lot more. The bank offers different savings account products to suit you to the T, and maximize returns. The highest interest rate applicable is 6.75%. RBL several value-added services and facilities to improve your banking experience. You can open the RBL Savings Account online or visit the nearest bank branch for the same.

In the following post, we will discuss the RBL Savings Account interest rate, eligibility criteria, documents required, how to open the savings account, internet banking service, types of savings accounts, the savings accounts feature and FAQs.

RBL Savings Account Interest Rate

As from October 1, 2019, the bank has set a limit for the rate of interest in the following manner:

• The interest is calculated based on daily balance. The following rates apply in entire balances over Rs. 1 lac, or as per the given slabs mentioned below.
• RBL Savings Bank Account interest rate is 6.75% per annum on balances over Rs. 3 crores but up to Rs. 5 crores. The rate is the same for balances over Rs. 10 lacs and up to Rs. 3 crores.
• The rate of interest is 6% annually for balances over Rs. 1 lac and up to Rs. 10 lacs.
• For balances up to Rs. 1 lac, the rate of interest is 5% per annum. Also, for the initial Rs. 1 lac balance, the interest applicable is 5% annually.

Eligibility for RBL Savings Bank Account

Here are the eligible candidates who can open a savings bank account at RBL:

• Any resident Indian of 18 years of age
• A minor child
• Foreign national
• Member of HUF (Hindu Undivided Family)

NOTE: Registered mobile number, PAN Card, and Aadhaar Number are mandatory to open the account.

Documents Required to Open RBL Savings Bank Account

You can access the online opening form for savings account on the RBL’s official website. A representative will visit to help you with the formalities if necessary. Or, you can also walk into the nearest bank branch. The documents you will need are identity proof, relationship proof, address proof, and age proof.

Documents that suffice as identity proof, address proof, age proof, and relationship proof are:

• Driving Licence
• Valid Passport with signature and photograph
• Aadhaar letter issued by the UIDAI
• Job Card by NREGA

Document for identity proof are:

• Identity Card with the person’s photograph. The applicant’s identity card must be issued by either the State or Central government departments, public sector undertakings, public financial institutions, statutory or regulatory authorities, scheduled commercial banks, etc.
• Or it must be a letter provided and issued by a gazetted officer. This must accompany a duly attested photograph of the applicant.

Documents for address proof are:

• Last 3 months post office or bank savings account statement.
• Property tax or Municipal tax receipt that is less than a year old.
• Utility bills including that for electricity, water, piped gas, landline phone, post-paid mobile phone, etc which is not over 2 months old.
• Municipal tax or property tax receipt that is less than a year old

Documents for age, relationship and identity proof are:

• PAN Card issued by the IT department of the Government of India

How to Open an RBL Savings Bank Account?

To open an online RBL Savings Bank Account, all you have to do is provide your Aadhaar and PAN number, along with your mobile number. Visit the RBL Bank’s official website to open the account or you can visit the nearest bank branch for the same. Click here for online saving account opening form.

RBL Internet Banking Service for Savings Account

The new e-banking portal of RBL Bank brings an easy navigation experience. It has a simplistic welcome design. You can just login and enjoy n-number of services. Also, it is possible to view detailed and mini statement enquiry. You can also get an overview of account balances, loans, credit cards, investments, and deposits. You can bank from anywhere and anytime. The website is seamlessly responsive. It adapts to smartphones, tablets, and PCs.

NOTE: Click here for internet banking registration form in PDF format.

• There are several quick links to different sections, scheduled payments, and calendar.
• The personalized dashboard helps you to personalize the way you would like to view the dashboard with the available widgets.
• There is a facility for NEFT, IMPS, and RTGS.
• You can do self on-boarding through Debit Card, Loan accounts, Credit Card accounts, CIF. You will be able to register yourself on internet banking by providing your details.
• You can view Demat transactions and account holdings online.
• RBL credit cards are linked to e-banking, so you can download and view your credit card statements too. You can also make credit card payments online.
• Issued cheque status.
• You can initiate an e-chat to resolve your queries when transacting on e-banking.
• There is an inbox to view the bank's notifications and communications.
• You can request a call back by the RBL representation if you need assistance during the online transaction.
• You can set up standing instructions for all the fund transfers.
• The facility of ‘fund transfer to mobile’ helps you to transfer funds to a mobile number. Here, you do not even have to add a beneficiary.
• Through Bill Pay, you can pay utility bills and pay Direct taxes.
• You can shop online at over 3,000 websites and much more through Payment Gateway.

Types of RBL Savings Account

Below given are the types of RBL Savings Accounts that you can open:

1. RBL Digital Savings Account

To open a Digital Savings Account, all you need is your PAN number and Aadhaar number. You can open the account digitally and experience seamless banking. The application procedure is paperless and instant. You will benefit with anytime banking and higher interest rates. Also, there are no charges on non-maintenance of balances if you do a Recurring Deposit (RD) or Systematic Investment Plan (SIP) of at least Rs. 2000.

How to Open an RBL Digital Savings Account?

There are two ways to apply for Digital Savings Account:

• Apply by visiting the official website of the bank
• Apply through the RBL MoBank 2.0 app
• Provide your mobile number, PAN number, and Aadhaar number

RBL Digital Savings Account Interest Rate

The annual interest rate with effect from October 2019, is 6.75% for balance between Rs. 3 crores and Rs. 5 crores or balance between Rs. 10 lacs to up to Rs. 3 crores. The rate of interest is 6% and 5% for balances between Rs. 1 lac and Rs. 10 lacs, and up to Rs. 5 lacs, respectively.

Features of Digital Savings Account

Here are the benefits of this RBL savings account:

• Transfer Funds: With this facility, you can transfer money quickly to anyone with a bank account. There are several options to access such as RTGS, NEFT, and IMPS. These transfers are free-of-cost.
• Withdraw Cash: You can easily withdraw cash from the ATM or bank branch of RBL across the country. There are no additional costs on withdrawals until from the 11th transaction onward.
• Banking on Mobile App: Experiencing banking on-the-move with the RBL MoBank 2.0 app. Right from fund transfer, bill payment, checking bank balance, transactions, etc, everything you can imagine for this Savings Account, is available on the RBL mobile app.
• Check Transactions Anytime: If you want to keep a track of account transactions, login to the RBL MoBank 2.0. Here, you can find details about funds credited and debited to the account. You will receive all transactional information without waiting for the account statement to arrive from the bank.
• Debit Card: After opening this account, you will receive the Titanium First Debit Card. This ATM cum Debit Card is useful for cashbacks and discounts. You also get complimentary air and accident insurance on this card.
• Bill Payment: You can access speedy bill pay facilities for utilities such as landline, electricity, gas, mobile, DTH, and a lot more.
• Investments: You can put spare cash from the account into a FD (Fixed Deposit) and maximize the returns. You may also choose to invest the money into Mutual Funds.
• Secure and Safe Banking: With the robust security system, the bank ensures that your account remains safe all the time. Measures such as two-factor authentication ensures that the Digital Savings Account is easily accessible to only you.

Digital Savings Account Documentation

The documents you need to provide while opening of the account are:

• Aadhaar Card
• PAN Card

Frequently Asked Questions about RBL Digital Savings Bank Account

Here are the RBL Digital Savings Account FAQs:

2. RBL Basic Savings Account

This is a ‘Zero Balance Savings Account’, because you do not have to necessarily maintain a monthly or average monthly balance. Also, there are no charges applicable if you do not maintain any certain limit of bank balance. You can access this account from any of the RBL branches in India. You can transfer funds through NEFT and RTGS. Also, you will receive a free-of-cost RuPay Card. The cash withdrawal limit on this Debit Card is Rs. 30,000 and Rs. 50,000 for ATM. The account offers unlimited free transactions via ATM at RBL Bank ATMs.

RBL Basic Savings Account Interest Rate

The annual interest rate with effect from October 2019, is 6.75% for balance between Rs. 3 crores and Rs. 5 crores or balance between Rs. 10 lacs to up to Rs. 3 crores. The rate of interest is 6% and 5% for balances between Rs. 1 lac and Rs. 10 lacs, and up to Rs. 5 lacs, respectively.

Features of RBL Basic Savings Account

Here are some of the benefits of this RBL Savings Account:

• Higher FD Rates: Earn higher Fixed Deposit rates and grow your money, while saving tax on the bank deposits.
• Chequebook: Get free payable at par cheques. You will receive free-of-cost 2 cheque books (40 leaves each) every year.
• Debit Card: If you damage the Debit Card by any chance, you get a free replacement.
• Other Services: You can access mobile banking, phone banking, e-statement, SMS banking and alerts, and internet banking.

3. RBL Prime Savings Account

The Prime Savings Account comes with additional benefits such as higher interest rates, internet and mobile banking, unlimited ATM transactions, and Titanium MasterCard Debit Card. The account makes your life easier with modern banking features and a wide variety of transactions. You can open this account solely or jointly with another person such as a sibling, spouse, or a minor child.

Features of RBL Prime Savings Account

Here are some of the benefits:

• You get the best FD rates on this account, which helps to grow your money.
• You can access hassle-free and simple banking through ATM, mobile banking and internet banking.
• The bank has specific wealth management solutions as per your need. It provides a team of experienced professionals at service for the same.
• You receive insurance benefits on the provided Debit Card.
• You can enjoy several transactional conveniences such as quick and easy fund transfer via RTGS/NEFT, enhanced daily limit on debit card, access to account from any of the bank branches in India, flexi-banking, complete monthly e-statement, personalized payable-at par cheque book.
• The bank provides a wide range of savings account variants as per your needs.

RBL Prime Savings Account Interest Rate

The annual interest rate with effect from October 2019, is 6.75% for balance between Rs. 3 crores and Rs. 5 crores or balance between Rs. 10 lacs to up to Rs. 3 crores. The rate of interest is 6% and 5% for balances between Rs. 1 lac and Rs. 10 lacs, and up to Rs. 5 lacs, respectively. The interest is calculated on a daily balance basis. The interest is paid in every quarter or after every 4 months.

Insurance Benefits on Titanium MasterCard Debit Card

After you open the Prime Savings Account, you will receive a Titanium MasterCard Debit Card, which comes with the following insurance benefits:

NOTE : The bank will only adhere and pay for the claims if you have done at least one POS transaction on the Debit Card in the last 89 days.

RBL Prime Savings Account Documentation

Here are the required documents to open the account:

• Passport/Aadhaar Card/NREGA card/ID card issued by the State or Central government departments
• PAN Card is mandatory
• Last 3 months bank statement
• For address proof, you can submit latest utility bills (under 2 months old) such as that of electricity, post-paid mobile, landline telephone, etc.

Frequently Asked Questions about RBL Prime Savings Account

Here are the RBL Prime Savings Account FAQs:

4. RBL Prime Edge Savings Account

Do you want an edge over other savings accounts with additional benefits? If yes, then the Prime Edge Savings Account is the best for you over the regular savings account. Here, you can get discounts on hospitalization and medical advice if you choose services from a vast network of 6,000 hospitals in India. It is like a Health Savings Account. It is customized for those who deal with high healthcare costs. Thus, this RBL Savings Account is perfect if you have regular or good amounts of medical expenses.

RBL Prime Edge Savings Account Interest Rate

The annual interest rate with effect from October 2019, is 6.75% for balance between Rs. 3 crores and Rs. 5 crores or balance between Rs. 10 lacs to up to Rs. 3 crores. The rate of interest is 6% and 5% for balances between Rs. 1 lac and Rs. 10 lacs, and up to Rs. 5 lacs, respectively.

Features of Prime Edge Savings Account

Here are the benefits of this RBL Bank account:

• Online Access: It is possible to open RBL Prime Edge Savings Account online and enjoy banking on fingertips.
• Bill Payment: You can pay bills and taxes free-of-cost through the internet banking facility of the bank.
• Convenient Banking: Take benefit of higher and free limits for ordering pay-orders and Demand Drafts. Also, get a payable at par cheque book. You can also enjoy enhanced withdrawal and cash deposit limits.
• Value Added Advantages: You will get access to several insurance and investment products/services. Also, you are eligible for a Credit Card or loan. There are also special offers on Debit Cards. The annual subscription fee is Rs. 250 only for Vidal Healthcare services. To subscribe or know more, you can call on +91 8049166710 between 10 AM to 6 PM IST, on weekends. You can also email on info@vidalhealth.com.
• Medical Benefits: You can get 10% to 20% discount on preventive healthcare tests and hospitalization. The Prime Edge Savings Account will provide the right advice for the same as to how to avail these discounts at networked hospitals and treatment centres. You can choose a second opinion and treatment from the Vidal empanelled specialists.
  There is a huge network of 1500+ diagnostic centres and 6000 hospitals to select for medical assistance service for your immediate family members and you. The health benefits by Vidal Health Care are linked to your Debit Card. You need to make an annual subscription for the same to avail the benefits.
• Premium ATM Card: The Titanium Card benefits you with free withdrawals from any bank’s ATM subject to certain terms and conditions. It has insurance benefits as well: Cash in transit up to Rs. 50,000, Lost card liability/counterfeit of up to Rs. 50,000, Purchase protection up to Rs. 10,000. Personal accident – death up to Rs. Rs. 2,50,000, Personal accident – air up to Rs. 2,50,000.

5. RBL Woman’s First Savings Account

As the name suggests, the Women’s First Savings Account is available for only female account openers. The account comes with a year-long discount scheme and several healthcare discounts. You will receive a higher interest rate, financial value-adds, exclusive Woman’s First Debit Card, and the facility of zero balance account if the account is for a minor female child. Any woman over 18 years of age and a resident Indian, can open this RBL savings account. The minimum balance requirement is Rs. 10,000.

Features of RBL Woman’s First Savings Account

Here are some of the benefits:

• Receive enhanced withdrawal and cash deposit limits.
• Get benefit of higher rate of interest and free transaction at any bank’s ATMs.
• Tax payment and free bill payment facility on internet banking.
• For the first year, get a 10% discount on locker rent.
• The zero-balance kid’s account is subject to Rs. 500 per month as minimum Standing Instructing for one-year tenure at least.
• Get shopping benefits on the Debit Card. You will receive year-round discounts and offers on favourite brands. Click here for all the smart deals. There are coupons and discounts on food, health, shopping, wellness, entertainment, and more.
• To know the savings account balance, dial 18004190610 from your registered mobile number.
• On the activation of Women’s First Debit Card, get a welcome voucher worth Rs. 2,500. Also get several medical concierge services and health benefits at discounted rates.

Frequently Asked Questions about Woman’s First Savings Account

Here are the RBL Woman’s First Savings Account FAQs:

6. RBL Advantage Savings Account Interest Rate

The annual interest rate with effect from October 2019, is 6.75% for balance between Rs. 3 crores and Rs. 5 crores or balance between Rs. 10 lacs to up to Rs. 3 crores. The rate of interest is 6% and 5% for balances between Rs. 1 lac and Rs. 10 lacs, and up to Rs. 5 lacs, respectively.

Features of Advantage Saving Account

Here are the benefits of this RBL Savings Account:

• Withdrawal Limits: The daily cash withdrawal limit is up to Rs. 1 lac. Also, the daily shopping limit is worth Rs. 2 lacs.
• Free Transaction Limits: You can avail a unified charge structure and free transaction limit. Apart from NEFT, RTGS, free payable at par cheque book and access to ATMs, you will also get free outstation cheque collection and cash transaction at RBL branches.
• Special Privileges: Get up to 15% off on safe deposit lockers. The applicable discount is only on one locker. Also, this facility is only for the first account holder who needs to be the owner of the locker. The locker holder has to issue a Standing Instruction from the Advantage Savings Account.
• Online Banking: You can enjoy online and mobile banking with all the relevant services, on-the-go.
• Platinum Debit Card: You will receive Platinum Mastercard Debit Card. This comes with enhanced limits and access to platinum concierge services, all powered by the Master Card.
• Loan against Property: Get up to 25% discount on the processing fee for property loan.

Frequently Asked Questions about RBL Advantage Savings Account

Here are the Advantage Savings Account FAQs:

7. RBL Executive Salary Account

This is a Salary Account cum Savings account. This is why it is also a zero-balance account so that you can withdraw/use up your earnings in full. The account applies minimal charges on services only, so that works in your favour and finances. Employers can get in touch with the bank to open an RBL Executive Salary Account for their employees.

NOTE: There are stipulated charges for the maintenance of the account. Click here to know more.

Eligibility Criteria for Executive Salary Account

The salaried employee needs to submit required documents along with other papers such as employment contract, employment offer letter, and introduction letter from the employer in the bank’s format. The letter must be signed and stamped by an authorized signatory. Remember, at RBL, this savings account is only for employees with a net monthly salary of Rs. 20,000 to Rs. 50,000.

RBL Executive Salary Account Interest Rate

The annual interest rate with effect from October 2019, is 6.75% for balance between Rs. 3 crores and Rs. 5 crores or balance between Rs. 10 lacs to up to Rs. 3 crores. The rate of interest is 6% and 5% for balances between Rs. 1 lac and Rs. 10 lacs, and up to Rs. 5 lacs, respectively.

Features of RBL Executive Salary Account

Here are the benefits of this RBL Savings Account:

• There is no requirement to maintain a minimum average monthly balance. It is a zero-balance salary account.
• The bank offers Master Titanium, Visa Classic, or Platinum Master Debit Card.
• The cash withdrawal limit per day is Rs. 50,000 and Rs. 1 lac for shopping on the Titanium Master Debit Card.
• Enjoy free cash withdrawals from RBL Bank ATMs in India with higher limit for free number of ATM transactions.
• You will get a free e-statement for the month.
• You can avail the facility of Fixed Deposits at attractive interest rates.
• You can instantly generate Debit Card PIN and Internet Banking PIN via SMS service.
• The bank offers Relationship Managers to help with investment and wealth services with RBL.
• The bank has top security measures in place. It provides OTP (One Time Password) for every online transaction from the account.
• You can avail one free Demand Draft service every month.
• RBL offers effortless and swift local and outstation cheque collection services.
• Avail RTGS and NEFT facilities for fund transfers.
• Get a free-of-cost payable at par cheque book in every quarter.

Frequently Asked Questions about Executive Salary Account

Here are the RBL Executive Salary Account FAQs:

8. RBL Senior Citizen Savings Account

The Seniors First Savings Account helps you enjoy your retirement years by offering returns on money deposit. You can enjoy higher interest rates and health benefits. You will also receive a Titanium Debit Card. There is a facility to apply for this RBL Savings Account online. You can generate Debit Card Pin and Internet Banking PIN instantly through a single SMS.

The bank account comes with Gain4Sure Fixed Deposits and Tax Savings Deposits. For senior citizens, the premature penalty of 1% is waived off. If you are 60 years of age and above, a resident citizen, then you can open the Senior Citizen Account.

Features of Seniors First Savings Account

Here are the features of Senior Citizen Savings Account:

• Passbook and Cheque Book: You will get a free payable at par cheque book every quarter. You will also receive a free passbook facility. The latter facility is for individual account holders.
• Anytime Banking: You will benefit with free cash withdrawals at all ATMs across India, up to a certain limit. After this, a minimal fee will be applicable on additional withdrawals.
• Debit Card: You will get a Titanium Debit Card with exciting benefits and features. On Call Banking: From your registered mobile number, dial 18004190610 for query on savings account.
• Online Banking: You can access your bank account anywhere in the world and anytime through the internet banking facility. The access is free-of-cost.
• Bill Payment: You can make use of BillPay, a convenient, secure, and simple secure way to manage utility bill payments such as that of LIC premium, gas, telephone, electricity, and more.

Benefits of RBL Senior Citizen Account

Here are the following benefits:

• 1. Health Benefits: The bank offers advice on which hospital to choose. It will also advise on the cost for the treatment. You can go for a second opinion and treatment from Vidal empanelled specialists. Get 10% to 20% discount on preventive healthcare tests and hospitalizations. The medical assistance service is available for you and your immediate family members. The services can be accessed through a network of 6000 hospitals and 1500+ diagnostic centres.
• 2. Vidal Healthcare: Health benefits by Vidal Healthcare is linked to Debit Cards on the Senior Citizens Account. It can be availed on an annual subscription basis at Rs. 250 only. For more details, you can email at info@vidalhealth.com or call +91 8049166710 on weekdays between 10 AM and 6 PM IST.
• 3. Other Pricing Discounts: You can open the RBL savings account free-of-charge with Rs. 750 waived off. There is a discount of 0.25% on brokerage charges. Also, the facility of free dematerialization of physical shares is available.

Frequently Asked Questions about RBL Savings Account

Here are RBL Savings Account FAQs: