RBL Bank offers an array of savings accounts to meet the diverse banking needs of different individuals including women, senior citizens, salaried individuals, etc. Read further to know more about the latest RBL Bank savings account interest rates applicable in 2023, the eligibility criteria for different RBL Bank savings accounts, documents required and more.
RBL Bank Savings Account Interest Rates 2023
| Bank Balance | Interest Rate (% p.a.) |
| Up to Rs. 1 Lakh | 4.25 |
| Above Rs. 1 Lakh up to Rs. 10 Lakh | 5.50 |
| Above Rs. 10 Lakh up to Rs. 25 Lakh | 6.00 |
| Above Rs. 25 Lakh up to Rs. 1 Crore | 6.50 |
| Above Rs. 1 Crore up to Rs. 3 Crore | 6.50 |
| Above Rs. 3 Crore up to Rs. 5 Crore | 6.50 |
| Above Rs. 5 Crore up to Rs. 7.5 Crore | 6.50 |
| Above Rs. 7.5 Crore up to Rs. 10 Crore | 6.25 |
| Above Rs. 10 Crore up to Rs. 50 Crore | 6.25 |
| Above Rs. 50 Crore up to Rs. 100 Crore | 5.25 |
| Above Rs. 100 Crore up to Rs. 200 Crore | 6.00 |
| Above Rs. 200 Crore up to Rs. 400 Crore | 4.00 |
| Above Rs. 400 Crore up to Rs. 500 Crore | 5.25 |
| Above Rs. 500 Crore | 5.25 |
Note: The above-mentioned RBL Bank savings account interest rates are updated as of 27th January, 2023.
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Features & Benefits of All RBL Bank Savings Accounts
1. Digital Savings Account
RBL Bank Digital savings account can be opened instantly online simply using your Aadhaar number and PAN.
| Particulars | Details |
| Average Monthly Balance (AMB) | ● Rs. 5,000* *Average Balance Requirement waiver if you start a recurring deposit or SIP of Rs. 2,000 or more |
| Eligibility Criteria | Valid PAN Card and Aadhaar Card are mandatory |
| ATM Charges & Monthly withdrawal limit | ● Unlimited free transactions per month in RBL Bank ATMs ● Free first 5 transactions per month in other bank ATMs ● No limit on the amount that you can withdraw |
| Debit Card | Virtual debit card |
| Other Features | ● Net-banking, Mobile Banking ● Bill Pay facility ● IMPS, NEFT and RTGS facility ● Book FD, RD and mutual funds online ● Complimentary air and accident insurance along with your debit card |
2. RBL Rise Savings Account
With the RBL Rise savings account, you get the freedom to choose your account number. It also comes with a higher interest rate on your FD and various other features and benefits.
| Particulars | Details |
| Average Monthly Balance (AMB) | Rs. 50,000 |
| ATM Charges & Monthly Withdrawal Limit | ● Unlimited free cash withdrawals at RBL Bank ATMs ● Higher ATM withdrawal limit of Rs. 1 lakh/day ● Higher POS limit (including online transactions) of Rs. 2 lakh/day |
| Debit Card | Crest Debit Card with welcome benefits up to Rs. 4,000 |
| Credit Card | RBL Bank Platinum Maxima Credit Card with first-year fee waiver |
| Other Features | ● Net-banking, Mobile Banking ● Free Zomato Pro membership for 1 year ● Complimentary lounge access with free RBL Bank Platinum Maxima Credit Card ● Up to 20% discount on lockers ● Preferential pricing on loans ● Higher cash withdrawal and deposit limits ● Easy anytime-anywhere access to your account via Internet Banking, RBL MoBank, WhatsApp Banking and RBL Cares – Chatbot ● Free tax payment and bill payment facility using the with your bank’s digital channels |
3. Advantage Savings Account
RBL Bank’s Advantage Savings Account gives you added benefits as compared to regular savings accounts such as the freedom to choose your account number, access to platinum concierge services and more.
| Particulars | Details |
| Average Monthly Balance (AMB) | Rs. 25,000 |
| Eligibility Criteria | Need to meet minimum monthly balance requirement as specified by the bank |
| ATM Charges & Monthly withdrawal limit | ● Unlimited free cash withdrawals at RBL Bank ATMs ● Daily cash withdrawal limit of Rs. 1 lakh ● Higher shopping limit of Rs. 2 lakh/day |
| Debit Card | Platinum MasterCard Debit Card with enhanced limits |
| Other Features | ● Net-banking, Mobile Banking ● Select the account number of your choice ● Free cheque book, demand draft, RTGS and NEFT ● Free outstation cheque collections and cash transactions at the RBL branches ● Up to 15% off on safe deposit lockers ● Additional 25% off on processing fee for with your Loan Against Property |
4. Prime Edge Savings Account
RBL Bank’s Prime Edge Savings Account offers higher interest rates on your savings account, premium ATM card and more.
| Particulars | Details |
| Average Monthly Balance (AMB) | Rs. 10,000 |
| Eligibility Criteria | Minimum monthly balance requirement as specified by the bank |
| ATM Charges & Monthly withdrawal limit | Unlimited free cash withdrawals at RBL Bank ATMs |
| Debit Card | Titanium MasterCard with added insurance benefits |
| Credit Card | Available as per terms & conditions |
| Other Features | ● Net-banking, Mobile Banking ● Free payable at par cheque book ● Free and higher limits for ordering demand drafts and pay orders ● Higher cash deposit and withdrawal limits ● Free tax payment and bill payment using with your internet banking |
5. Woman’s First Savings Account
RBL Bank Woman’s First Savings Account is specifically designed for women and offers higher interest rates, an exclusive Woman’s First debit card and various discounts throughout the year.
| Particulars | Details |
| Minimum Balance Requirement | Rs. 10,000 |
| Eligibility Criteria | ● Primary applicant should be a resident woman above 18 years of age ● Mandatory PAN Card required |
| ATM Charges & Monthly withdrawal limit | Unlimited free transactions at RBL bank ATMs |
| Debit Card | Exclusive Woman’s First Debit Card |
| Other Features | ● Net-banking, Mobile Banking ● Unlimited year-long discounts ● One zero balance kid’s savings account ● Complimentary insurance on debit card ● Higher cash deposit and withdrawal limit ● Free tax payment and bill payment facility using internet banking ● 10% Discount on locker rental for the first year ● Complimentary card with your insurance |
6. Senior Citizen Savings Account
RBL Bank Senior Citizen Savings Account is specially customized for people above 60 years of age and offers a higher interest rate, Titanium debit card and other exclusive features and benefits.
| Particulars | Details |
| Average Monthly Balance (AMB) | Rs. 5,000 |
| Eligibility Criteria | Must be 60 year old Indian national |
| ATM Charges & Monthly withdrawal limit | Free cash withdrawals at all RBL Bank ATMs across India |
| Debit Card | Titanium debit card |
| Other Features | ● Free payable at par cheque book every quarter and free passbook facility for individual account holders ● Easy bill payments with Billpay ● Free online and on-call banking ● Earn higher interest rates with our Gain4Sure Fixed Deposits, including tax-saving deposits premature penalty of 1% waived off for senior citizens ● Instant debit card PIN and internet banking PIN through with your single SMS |
7. Prime Savings Account
RBL Bank Prime Savings Account is a premium savings account to carry out a wide variety of transactions and comes with an array of features.
| Particulars | Details |
| Average Monthly Balance (AMB) | ● Rs. 5,000 (Semi Urban) ● Rs. 2,500 (Rural) |
| Eligibility Criteria | Mandatory PAN Card required |
| ATM Charges & Monthly withdrawal limit | ● Unlimited free transactions at RBL Bank ATMs ● Daily cash withdrawal limit up to Rs. 50,000 ● Daily shopping limit up to Rs. 1 lakh |
| Debit Card | Titanium MasterCard Debit Card |
| Other Features | ● Net-banking, Mobile Banking ● Higher fixed deposit rates ● Wealth management solutions to meet individual requirements ● Insurance benefits on debit card ● Flexi-banking with a personalized payable-at-par chequebook ● Complete monthly e-statements for your account ● NEFT and RTGS with your facility |
8. Executive Savings Account
RBL Bank Executive Savings Account is a zero balance salary account that lets you make the most of your earnings. The account also comes with various exclusive features and minimal charges.
| Particulars | Details |
| Average Monthly Balance (AMB) | Zero Balance Savings Account with no average monthly balance requirement |
| Eligibility Criteria | · Employment offer letter, employment contract and introduction letter from your company in the Bank’s format (signed and stamped by an authorized signatory is mandatory) · Net monthly salary of Rs. 20,000 – Rs. 50,000 |
| ATM Charges & Monthly withdrawal limit | ● Unlimited free cash withdrawals per month in RBL Bank ATMs and a higher free number of transactions at other bank ATMs ● Cash withdrawal limit of Rs. 50,000/day and a shopping limit of Rs. 1 lakh/day with Titanium Master debit card |
| Debit Card | Option to choose between Visa Classic/Platinum Debit Card/Master Titanium/Platinum Master Debit Card |
| Other Features | ● Net-banking, Mobile Banking, SMS Banking ● Instant internet banking and debit card PIN generation via SMS ● Complimentary cheque book ● Outstation and local cheque collection services ● NEFT and RTGS facility ● One free Demand Draft per month ● SMS and Email alerts on every transaction ● Monthly E-statements ● Safe deposit locker with your facility |
9. Basic Savings Account
RBL Bank Basic Savings Account is a zero balance savings account to avail of basic banking services.
| Particulars | Details |
| Average Monthly Balance (AMB) | Nil |
| ATM Charges & Monthly withdrawal limit | ● Unlimited free transactions per month in RBL Bank ATMs ● Cash withdrawal limit of Rs. 50,000 for ATM and Rs. 30,000 for POS |
| Debit Card | Free RuPay Card |
| Other Features | ● Net banking, Mobile Banking, SMS Banking and alerts ● Free fund transfer using NEFT and RTGS ● 2 Free payable at par cheque books per annum (40 leaves) ● Higher FD rates ● E-statement ● Online bill payment services ● Free damaged card replacement |
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Documents Required for Opening an RBL Bank Savings Account
Some key documents required to open a savings account with RBL Bank are:
- Latest passport size photograph(s)
- Duly filled and signed account opening form
- Identity Proof– Aadhaar Card, Driving License, PAN Card, Voter ID, Senior Citizen Card, or any Government ID Card (any one)
- Address Proof – Passport, Aadhaar Card, Utility Bills, Bank statement with a cheque (any one)
Note: This is not an exhaustive list. RBL Bank may ask for additional documents as deemed necessary depending upon your applicant profile and the account type desired.
How to Open an RBL Savings Account Online
Most types of RBL savings account can now be opened online. RBL savings account can be opened online by visiting the RBL website and following a few simple steps.
Step 1: Visit the bank’s website and click on savings account
Step 2: Click on ‘Apply Now’ option in savings account
Step 3: You will be redirected to a page, on the right side of the page, click on ‘Open a savings account’
Step 4: Provide your Aadhaar and PAN card details
Step 5: Choose the type of variant of savings account you want to open
Step 6: Fill in the updated personal details
Step 7: Your account will be opened upon successful verification by the bank
To make this process hassle-free, applicants are requested to keep all their KYC documents scanned to speed up the account opening process.
How to Open an RBL Savings Account Offline
To open an RBL savings account offline, applicants need to follow the below-mentioned steps.
Step 1: Visit the nearest branch of the bank and fill out the savings account application form
Step 2: The bank official will ask you to share basic details to open your account
Step 3: Choose the type of account you want to open and provide your self-attested Aadhaar and PAN card copies
Step 4: Submit the application form along with other documents and cash deposit slip or demand draft to the bank’s official
Step 5: Your account will be opened upon successful verification by the bank
RBL Bank will provide you with a welcome kit of the type of savings account you have opened. The kit contains all the necessary details to operate your account.
FAQs
Q1. Is an Aadhaar card mandatory to open an RBL Bank savings account?
No. As per the latest government guidelines, you need not mandatorily provide an Aadhaar Card to open an RBL Bank account. This applies to all banks in the country.
Q2. How frequently is interest credited to my RBL Bank savings account?
Interest earned on your RBL Bank savings account balance is credited to your account every quarter.
Q3. What is RBL MoBank 2.0?
RBL MoBank 2.0 is RBL Bank’s mobile banking application that you can download and use on your phone. It lets you carry out key banking activities such as transferring funds, checking your balance, bill payments, etc. using your mobile phone.
Q4. Can I change my RBL Bank savings account from one account type to another?Yes, it is possible to change/upgrade your RBL Bank savings account type based on your needs. To get more assistance on the same you can contact your relationship manager, the customer service or visit the nearest RBL Bank branch.
Q5. Can I transfer my RBL Bank savings account to a different branch?
Yes, you can transfer your RBL Bank savings account to a different branch by submitting a duly filled account transfer form.
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