RBL Bank Prime Savings Account
RBL Bank Prime Savings Account offers flexible banking, insurance benefits under Titanium MasterCard Debit Card, higher interest rates, and a lot more. It aims at easing financial transactions and bestowing customers with enhanced withdrawal limits. You can access your savings account across all the RBL Bank branches. The highest interest rate offered is 6.25%. The interest earned is credited every quarter and based on the daily balance.
In this post, we will discuss RBL Bank Savings Account features, interest rates, insurance benefits under the debit card, documents required, and frequently asked questions.
Features of RBL Bank Prime Savings Account
Here are the details:
- Personalized payable-at-par cheque book
- Transfer of funds quickly through RTGS/NEFT
- Monthly e-statement for your savings account
- You will receive a Titanium MasterCard Debit Card
- Internet and mobile banking, unlimited ATM transactions, bill payments
- Free transactions at all the ATMs of RBL Bank
- Facility to open a fixed deposit at attractive interest rates
- Team of professionals reachable for wealth management solutions as per your need
RBL Bank Prime Savings Account Interest Rates
Here is more information:
- The interest payout is quarterly. The bank calculated interest on a daily product basis
- The interval for quarterly payment is on June 30, September 30, December 31, and March 31 every year
- RBL Bank Prime Savings Account Interest Rate is 6.25% per annum if you have a balance over Rs. 3 crores and up to Rs. 5 crores
- The rate is 6.25% if the balance is more than Rs. 10 lakhs and up to Rs. 3 crores
- The rate is 5.50% if the balance is above Rs. 1 lakh and up to Rs. 10 lakhs
- The rate is 4.25% if the balance is up to Rs. 1 lakh on a basis of daily balance
- You can get in touch with the branch manager/relationship manager for interest rates on balances over Rs. 5 crores. In this case, the rate will apply on the entire amount over Rs. 1 lakh balance as per the given slabs. The initial balance of Rs. 1 lakh earns a rate of 4.25%
RBL Bank Insurance Benefits of Titanium MasterCard
Here is what you can expect:
NOTE: Bank accepts the claims only if you have used the card at least once in the last 89 days for POS transactions
- Cash in transit – Rs. 50,000
- Personal Accident (Death) – Rs. 2,50,000
- Personal Accident (Air) – Rs. 2,50,000
- Lost card liability/counterfeit – Rs. 50,000
- Purchase protection – Rs. 10,000
Documents Required for RBL Bank Prime Savings Account
Here is a list of documents to open this RBL Bank Savings Account:
- Filled up and duly signed application form with a passport-size photograph
- Basic KYC documents and other papers as
- Aadhaar Card/Passport/Voter ID Card/MNREGA Card
- PAN Card is mandatory
- ID Card issued by either state or central government department
- Utility bills such as that of electricity, landline telephone, post-paid mobile under 2 months old
- Bank statement of the last 3 months
Frequently Asked Questions about RBL Prime Savings Account
Here are the RBL Bank Prime Savings Account FAQs:
Yes, you can go for a joint account with an individual. The eligible applicants here are your minor children, spouse, and sibling.
There is worldwide acceptance for this debit card at all ATMs abroad. Also, this card has acceptance at retail outlets that allow MasterCard transactions.
You can withdraw for free at RBL Bank ATMs anywhere in India. The limit for withdrawal every day is Rs. 50,000. Also, with the Titanium First Debit Card, you can shop for up to Rs. 1 lakh every day.
As per the RBI norms, if you make no transactions such as withdrawals, deposits, etc in 2 years, then the account becomes dormant. But you can always get in touch with the bank to reactivate the account.
The bank charges nothing if you transfer funds within RBL Bank. Also, for outward RTGS and NEFT, there are no charges. To top it, you can make one free-of-cost demand draft in a month from RBL Bank as non-RBL Bank locations.