RBL Bank Advantage Savings Account

As per the needs & requirements of customers, RBL Bank provides four types of savings accounts.

Advantage Savings Account

This account is opened by depositing a minimum amount of Rs. 25000. Average Monthly Balance to be maintained in the account shall be Rs. 25000, failing which the account shall be penalised as under:

  • A penalty of 5% of the deficit balance shall be levied, in case the balance being maintained is more than 50% of the AMB.
  • A penalty of 10% of the deficit balance shall be levied, in case the balance being maintained is 50% or less as compared to the AMB.

No fee is levied on cash deposits up to Rs. 1000000 per month made at any RBL Bank branch, thereafter a fee of Re. 1 per thousand shall be charged, subject to a minimum amount of Rs. 25 per transaction. However, all cash withdrawals at RBL Bank branches are free.

Interest Rate

The interest offered is 5.1% per annum. However, for accounts maintaining a balance of above Rs. 100000, the interest offered is 6.1% per annum & interest of 7.1% is offered on accounts maintaining a balance of above Rs. 1000000.

Features, Fees and Charges

Internet banking is provided free of cost, through which funds are securely transferred through NEFT/RTGS. Free debit card (Domestic & International) is provided free of cost with no annual fee. Subject to the condition that the account maintains AMB of Rs. 25000; the debit card can be used at any RBL ATM or any VISA ATM without incurring any fee.

High withdrawals limited to Rs. 100000 at ATMs & spending limit of Rs. 200000 at POS are allowed. The international debit card used at international VISA ATMs attracts Rs. 25 for each balance enquiry or cash withdrawal.

Damaged Domestic/ International Debit cards are replaced free of cost, whereas Rs. 50 is charged for lost cards The first ten transactions for demand drafts at RBL branches are free, thereafter a fee of Rs.50 is charged for each transaction. In non RBL branches the first five transactions for demand draft is free and a fee of Rs.60 is charged from the sixth transaction onwards.

For revalidation, cancellation or issuance of duplicate demand draft, Rs.50 shall be charged per transaction.

25 free cheque leaves per month & thereafter each leaf costing Rs.2 shall be provided.

All fund transfers within RBL Bank & collection of local cheques are free. 3 free monthly transactions for branch out station clearances and 2 free monthly transactions for non branch outstation clearances are offered by the bank, thereafter Rs. 50 shall be charged.

Though cheques deposited and returned for technical reasons shall not attract any charge, Rs100 shall be charged for each return of cheques due to financial reasons.

For cheques issued and returned Rs. 350 for the first cheque and thereafter Rs.500 for each cheque shall be charged.

Rs. 200 shall be charged for Each ECS returned. Rs.50 shall be charged for each instance of 'Stop Payment'.

The facilities provided free of cost by the bank include issue of duplicate passbook, duplicate statement, monthly/quarterly physical statement, online payment of taxes charges, SMS services.

Rs.25 is charged for each balance statement ( except request made on 31st March), confirmation of interest certificate, TDS certificate whereas Rs.50 each is charged for failure/modification to standby instructions, old cheque copy, paid cheque report, photo attestation and signature verification.

No fee shall be charged if an account is closed within 14 days of opening & Rs.500 shall be charged if the account is closed after 14 days but within 6 months of opening of the account.