Manage Money

RBL Bank Savings Account

Established in 1943 as The Ratnakar Bank Limited, RBL was founded to serve the banking requirements of indigenous merchants in the Sangli-Kohlapur region of Maharashtra. It is a private sector bank in India and one of the oldest ones too. It has close to 200 branches across 13 states and UTs of India. RBL focuses on assisting SMEs apart from providing personal banking services.

RBL Bank Savings Account Interest Rate

RBL Bank offers the following interest rates for its Savings Account:

  • 5.1% p.a. for daily balance up to Rs 1 lakh
  • 6.1% p.a. for daily balance above Rs 1 lakh and below Rs 10 lakhs
  • 7.1% p.a. for daily balance above Rs 10 lakhs

Types of RBL Bank Savings Account

Advantage Savings Account: This account offers maximum benefits and a totally hassle-free banking experience to the customers. Customers get to choose their account number along with additional perks like a free platinum Visa debit card with high withdrawal limits, a complimentary accidental death cover of Rs.5 lakhs, 15% discount for safe deposit lockers, Platinum Concierge Services by Visa and also a 25% discount on processing fee of loans on opening the Advantage Savings account.

Prime Edge Savings Account: This account offers great benefits in healthcare and hospital services apart from other exciting value-added services and banking benefits. Customers of this account get 10% to 20% discounts on preventive health care tests as well as hospitalization charges from Vidal Health. Customers get access to complete medical assistance and consultation services from more than 6000 hospitals and over 1500 diagnostic centers. Prime Edge Account holders can enjoy the basic banking facilities like internet banking, bill payments,  unlimited transactions at other bank ATMs as well as a high withdrawal limit.

Executive Salary Account: This is a zero balance account that offers a suite of customer-centric features. Customers get a free debit card, unlimited access to other bank ATMs and enhanced ATM withdrawal limits apart from basic banking services like phone banking, mobile banking, internet banking, e-statements, online bill payment services, etc. As an added perk, an experienced team of professionals advice the customers on wealth management

Prime Savings Account: This scheme offers the best FD interest rates for a savings account. The account holders receive wealth management solutions from the bank's experts and professionals. Customers can access their account from any branch of RBL Bank in the country. Customers get to enjoy free internet banking, monthly e-statements for all accounts, fund transfer facilities among all other banking services.

RBL Seniors First Savings Account: This account is designed for customers above 60 years of age to meet their banking needs in comfort. The account is specifically designed for the seniors as it offers up to 20% discount to senior citizen account holders on cataract surgery and the cost of lenses; up to 15% discount on dental care treatments such as root canal and dentures. The bank advisory services to customers while choosing hospitals and facilitates discounts on brokerage charges. The account opening cost of Rs.750 is waived off and customers also get to enjoy free demat services. The Seniors First Savings Account comes with a free debit card which is linked to various health care benefits offered by Vidal Health Care. This account provides higher interest rates of 7.1% on deposits. There are internet and missed call services for free along with enhanced security on all the digital transactions. Customers have unlimited free withdrawal rights at all ATMs in India.

RBL Woman’s First Savings Account: This account was launched by RBL Bank to provide additional banking benefits to their women customers. It gives a Woman’s First Debit Card which comes with vouchers worth Rs.2,500 upon activation as well as free access to ATMs throughout India. The account also offers higher interest rates on deposits, low-cost locker rental services, health-care services at reduced rates and many other value-added services. Customers are also entitled to a zero balance minor account for their children.

RBL Savings Account Minimum Balance Required

Account Variant

Minimum Average Monthly Balance

Metro/Urban

Semi-Urban

Rural

Seniors First Savings Account

Rs.5000

Rs.5000

Rs.5000

Prime Savings Account

Rs.5000

Rs.2500

Rs.1000

Prime Edge Savings Account

Rs.10,000

Rs.10,000

Rs.10,000

Advantage Savings Account

Rs.25,000

Rs.25,000

Rs.25,000

Executive Salary Savings Account

-

-

-

Basic Savings Account

-

-

-

RBL Bank Savings Account Charges

Account types

Demand Draft Charges

Type of debit card offered

RTGS and NEFT charges (free if done through Banking)

Outstation Clearing

Seniors First Savings Account

Rs.50 at RBL and non RBL locations - 1 free per month

RBL Classic/ RBL Platinum debit card

RTGS - Rs.25 - 1 free per month, NEFT - Rs.25 max. - 5 free per month

NA

Prime Savings Account

Rs.50 at RBL and non RBL locations - 1 free per month

RBL Classic debit card

RTGS - Rs.25 - 1 free per month, NEFT - Rs.25 max. - 5 free per month

NA

Prime Edge Savings Account

Rs.50 at RBL and non RBL locations - 10 free per month

RBL Classic debit card

Free

Rs.50 per transaction - 2 Free at RBL bank branches

Advantage Savings Account

Rs.50 at RBL and non RBL locations - 5 free per month

RBL Platinum debit card

Free

Rs.50 - 2 free transaction at RBL bank branches

Executive Salary Savings Account

Rs.50 at RBL and non RBL locations - 1 free per month

RBL Classic debit card

RTGS - Rs.25 - 1 free per month, NEFT - Rs.25 max. - 5 free per month

NA

Basic Savings Account

NA

RBL Classic debit card

Free

NA

Common Fees and Charges for all RBL Savings Account

Service

Charges

Duplicate Passbook issuance

Rs.50

Replacement of lost card

Rs.50

Cheque deposited & returned due to financial reasons

Rs.100 per instance

Standing instruction failure and amendment

Rs.50 per instance

Demand draft charges

Rs.50

Outstation cheque clearing at branch and non-branch locations

Rs.50 per instrument

Paid Cheque Report

Rs.50

Demand draft cancellation / duplicate issuance / revalidation

Rs.50 per instance

Issuance of old cheque copy

Rs.50

Eligibility

These are the eligibility criteria for a Bandhan Bank Savings Accounts:

  • Resident Indian
  • Hindu Undivided Families
  • Trusts, associations, government bodies, religious institutions, clubs, etc.

Documents Required to Open a Savings Account

  • Identity Proof: Passport, driver’s license with validity, Permanent Account Number (PAN) card, Voter ID card, Aadhaar Card, Government-issued photo identity card, NREGA Card, etc.
  • Address Proof: Passport, driver’s license, Passbook of another bank, Electricity or phone bills, Ration card, etc.
  • Passport sized photographs
  • Hindu Undivided Families or HUFs must submit a declaration from the ‘karta’, PAN cards, form 60 and a prescribed HUF letter duly signed by all holders.
  • Salaried employees might have to submit bonafide authorization letter from their employer along with salary slips.
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