Latest RBL Bank Savings Account Interest Rate -2024

Established in 1943 and headquartered in Mumbai, RBL Bank is one of India’s oldest private-sector banks. This bank offers a wide range of savings account options, each catering to the different financial requirements of its customers. The RBL Bank savings account interest rates start from 4.25% per annum for investments into the account, along with additional benefits, which will be discussed in this comprehensive blog. 

Recent RBL Bank Savings Account Interest Rates 2024

RBL savings account considers interest calculations daily as per the balance at the end of the day in the account. The interest is paid on a half-yearly basis as per the total amount deposited. To find out your exact interest income, you can use an RBL Bank savings account interest rate calculator. 

However, before we dive into more details, let us take a look at the applicable interest rates on RBL savings accounts. 

RBL Bank Savings Account Minimum Balance Required

Apart from knowing RBL Bank savings interest rate, you must know the average balance requirements as you will be expected to maintain a minimum balance in your savings account as detailed in the table below.

RBL Bank Savings Account Charges 

Now that you know the current RBL Bank SB interest rate, let us find out the applicable non-maintenance and fund transfer charges of different types of savings accounts offered by RBL Bank. 

The ATM and POS transaction limits of different types of savings accounts are as follows.

Why Choose an RBL Bank Savings Account?

There are a range of benefits provided by various types of savings accounts at RBL Bank, some of which are listed below.

• Cheque book
• SMS Banking features
• Convenient RBL net banking services
• Debit cards for seamless transactions
• Get high returns with the RBL savings account interest rate up to 7.50% p.a.
• Easy deposits and withdrawals
• Personalized offers and accounts

Key Benefits of RBL Bank Savings Account

Here are the key benefits of opening RBL bank savings accounts that you need to know. 

• Free RuPay debit card with several benefits
• Premium Classic Debit Card with complimentary insurance 
• SMS facility for PIN generation
• Digital banking services with 24×7 access to your funds
• Enhanced deposit and withdrawal limits
• Lifestyle and insurance benefits
• Increased daily limits
• On-call banking access via your registered mobile number
• Convenient and secure bill payments including electricity, telephone, insurance premiums, and much more 

Additional Benefits Associated with RBL Bank Savings Account

Apart from the aforementioned benefits described, opening your savings account at RBL bank will provide the following additional advantages.

• Avail 2 cheque books per year (40 leaves) with Basic Savings Account
• No charges on NEFT and RTGS transactions
• High-security locker rentals at discounted rates (year-on-year)
• Complimentary benefits on insurance with Rise Savings Account
• Free transactions across any bank’s ATM
• Shopping benefits of up to ₹2 lakhs every day with Women’s First Savings Account
• Zero-balance kid’s account (only one allowed)
• Exclusive healthcare benefits with complimentary Medibuddy membership with a Senior Citizen Savings Account

How to Open an Online RBL Bank Savings Account?

You can conveniently open your RBL Bank savings account online without the hassle of visiting the branch office. Follow the steps below.

• Step 1: Visit the official website of the RBL Bank and click on the ‘Savings Account’ button.
• Step 2: Select the ‘Apply Now’ button under the ‘Savings Account’ tab.
• Step 3: Click on ‘Open a savings account’ on the right side of the page.
• Step 4: Provide your Aadhaar and PAN card details as required.
• Step 5: Select the type of savings account you want to open with RBL. 
• Step 6: Enter your updated personal details as required.

Your account will be opened after successful verification by the bank. Keep all your KYC documents handy to facilitate the account opening process.

How to Open an Offline RBL Bank Savings Account? 

To open your savings bank account with the RBL bank, you can consider the following steps.

• Step 1: Visit your nearest branch of the RBL Bank and fill up the RBL savings account form.
• Step 2: Provide the bank officials with the necessary details.
• Step 3: Select the type of savings account you want to open with RBL and provide the hard copies of supporting documents at the bank.
• Step 4: Provide your Aadhaar and PAN card details, along with the application form as required.
• Step 5: Provide either cash, cheque or DD for your account opening process.

Your account will be opened after successful verification by the bank. 

Eligibility Criteria to Open RBL Bank Savings Account

Check if you are eligible to open your RBL bank savings account based on the following criteria.

• Resident Indian with at least 18 years of age at the time of application.
• For an Executive Plus Account, your salary must be a minimum of ₹50,000 per month. Contact RBL bank to check the income criteria for other savings account types.

Documents Required to Open RBL Bank Savings Account

Submit the following documents to apply for your RBL Bank savings account.

• Valid Address and ID proof documents such as PAN Card and Passport.
• Passport-sized photographs with the duly filled application form.
• Salaried employees are required to submit their bonafide authorisation letter and salary slips from the employer.
• HUFs are required to submit their Karta declaration, PAN card, Form 60 and HUF letter duly signed by all the members.

Types of RBL Bank Savings Account and Its Features

RBL Bank provides the following types of savings accounts, each associated with unique features. 

RBL Savings Account Transaction Limit

The ATM and POS transaction limits of different types of savings accounts are as follows.

How to Close an RBL Bank Savings Account?

Consider following the given stepwise guidelines to close your RBL bank account in a few easy steps. 

• Step 1: Get the Savings account closure form from your nearest RBL branch or the official website.
• Step 2: Enter your account details in the closure form. 
• Step 3: Sign and submit it to the branch manager with the required KYC documents for verification.
• Step 4: Submit your debit card, passbook, as well as balance check leaves to the bank. 
• Step 5: Transfer or withdraw the net balance in your RBL Bank savings account. You can withdraw your funds via cash, cheque or DD and transfer it to a separate account.

Final Word

You can easily open your savings account at RBL after verifying the RBL Bank savings account interest rate through its official website or consulting a branch representative. We have provided a detailed step-by-step guideline to assist you in opening your savings account at RBL Bank and understand the charges, limits, features and benefits of your preferred type of account.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.