RBL is a private sector commercial bank in India which was formerly known as Ratnakar Bank. The bank offers nine types of savings accounts such as RBL Prime Digital Savings Account and RBL Woman’s First Savings Account. The interest offered on these accounts is up to 7.00% per annum, which is higher than most of the banks in India.
Let’s learn more about the RBL savings bank interest rate, RBL online savings account, how to open an RBL SB account online and more in this post.
RBL Bank Savings Account Interest Rate, 2023
The following are the different interest rates offered to the account holders in the RBL Bank:
(the actual balance upon which the stated interest is credited in given in the middle column)
| Daily Account Balance | Interest applicable to the following balance: | Rate of Interest (per annum) |
| Up to Rs 1 lakh | Entire balance | 4.25% |
| Above Rs 1 lakh to Rs 10 lakhs | Up to Rs 1 lakh | 5.50% |
| Above Rs 10 lakhs to Rs 25 lakhs | Up to Rs 1 lakh | 6.00% |
| Above Rs 25 lakhs to Rs 7.5 crores | Up to Rs 1 lakh | 7.00% |
| Above Rs 7.5 crores to Rs 50 crores | Up to Rs 1 lakh | 6.25% |
| Above Rs 50 crores to Rs 100 crores | Up to Rs 1 lakh | 5.25% |
| Above Rs 100 crores to Rs 200 crores | Up to Rs 1 lakh | 6.00% |
| Above Rs 200 crores to Rs 400 crores | Up to Rs 1 lakh | 4.00% |
| Above Rs 400 crores | Up to Rs 1 lakh | 5.25% |
Disclaimer: The above-mentioned RBL Savings account interest rates are effective from 5th April 2023 and are subject to change without prior information to the customer.
How to Open an RBL Bank Savings Account Online?
Follow these simple steps to online open a savings account in RBL Bank:
Step 1: Go to RBL Bank official website.
Step 2: Click on ‘Open a Savings Account’ button on the top of the webpage.
Step 3: Click on ‘Open Now’.
You’ll be prompted with this application form:
Step 4: Fill in your email ID and mobile number. If you have a promo-code, type that in the space provided. Click on ‘Get Started’.
After this submission, a bank official shall call you and send the account opening link on your email ID via which you’ll be able to open your RBL online savings account easily.
Alternatively, you can also give a missed call on 9355 71 9355 to start the RBL online savings account opening process.
Document Required to Open an RBL Savings Account
To open a savings account with the RBL Bank, all you require is your Aadhaar Card and PAN. Your photograph will be clicked by the bank official and you won’t require anything more than these to complete the process. The requirement is the same for opening an FD with RBL Bank.
Types of RBL Savings Accounts
There are nine (9) types of savings account that you can choose from in order to have your needs addressed properly. These are:
RBL Digital Savings Account
- Eligibility Criteria: Indian Resident of 18 years old or more
- Monthly Average Balance: Not Required
- Debit Card: Not Provided
- Multiple insurance covers offered with Crest debit card
- Special Features:
- Instant a/c opening
- Virtual debit card for bill payments & online shopping
- 5 free RBL ATM cash withdrawals
RBL Rise Savings Account
- Eligibility Criteria: Indian Resident of 18 years old or more
- Monthly Average Balance: Rs 50,000
- Debit Card: RBL Crest Debit Card with welcome benefits up to Rs 4,000
- Free Other banks domestic Cash Withdrawal
- Free movie tickets offered with the debit card
- Multiple insurance covers offered with Crest debit card
- Special Features:
- Option to choose A/c number
- 20% discount on lockers
RBL Advantage Savings Account
- Eligibility Criteria: Indian Resident of 18 years old or more
- Monthly Average Balance: Rs 25,000
- Debit Card: Free RBL Platinum Debit Card
- Special Features:
- Option to choose A/c number
- 15% discount on lockers
RBL Prime Edge Savings Account
- Eligibility Criteria: Indian Resident of 18 years old or more
- Monthly Average Balance: Rs 10,000
- Debit Card: Platinum/Titanium version @ Rs 500/Rs 250 charges
- Special Features:
- Can be applied online
- Free cash withdrawals from any bank’s ATM
RBL Woman’s First Savings Account
- Eligibility Criteria: Only woman residents of India of 18 years old or more
- Monthly Average Balance: Rs 10,000
- Debit Card: Woman’s First debit card @ Rs 500 charges
- Special Features:
- Free cash withdrawals from any bank’s ATM
- Discounts worth Rs 2,500 on debit card activation
- Air Accident Insurance: Up to Rs 10 lakhs
- Personal Accident Insurance: Up to Rs 5 lakhs
- And many other insurance covers provided
RBL Seniors First Savings Account
- Eligibility Criteria: Indian citizen of 60 years old or more
- Monthly Average Balance: Rs 5,000
- Debit Card: Platinum/Titanium options to choose from as per eligibility
- Special Features:
- Higher interest rates to senior citizens
- 25% discount on lockers (for first 12 months)
- Free DD issuance, payable-at-par cheque book, NEFT, RTGS and IMPS services, etc.
- Free and unlimited transactions at all ATMs across India
RBL Prime Savings Account
- Eligibility Criteria: Indian Resident of 18 years old or more
- Monthly Average Balance: Rs 2,500/ Rs 1,000 for Semi-Urban/Rural, respectively
- Debit Card: Platinum/Titanium options
RBL Basic Savings Account
- Eligibility Criteria: Indian Resident of 18 years old or more
- Monthly Average Balance: Nil
- Debit Card: RuPay card (complementary)
- Special Features:
- Unlimited free transactions at RBL Banks ATM
- Phone, Mobile, Internet and Online Bill Payment Services
RBL Executive Salary Account
- Eligibility Criteria: Any Indian citizen with valid KYC documents and a regular salary may open this account
- Monthly Average Balance: NIL
- Debit Card: Options ranging from Visa Classic, Platinum to Master Titanium or Platinum cards
- Special Features:
- Zero balance account
- Interest rates similar to RBL savings interest rates
- Cash withdrawals: Up to Rs 50,000/day
- Shopping limit: Rs 1 lakh/day
How to Transfer Funds Online from RBL Savings Account?
To transfer money from your RBL savings account, there are two ways to go about it. Either you choose the traditional route of cheque or demand draft which is a time consuming task or you choose the better alternative of going online with RBL internet banking or mobile banking.
Also, when choosing to issue or submit cheque for transfers, you must take care of the RBL bank timings so as to save time. However, for RBL netbanking, the digital window is open 24×7. So, indeed a win-win in any case.
To activate netbanking, use this RBL Bank Internet Banking Registration Form in PDF.
Here, we are giving a simple step-by-step guide for netbanking mode:
Step 1: Go to RBL Bank official website.
Step 2: Click on ‘Login’ and select ‘Personal Banking’.
Step 3: Log into RBL netbanking account with your User ID and password.
Step 4: Find the option for payments/transfers
Step 5: Add the beneficiary to whom you wish to transfer funds
Usually, there’s a cooling period of 30 minutes or more after which you can transfer money to a newly added beneficiary.
Step 6: Click type of option such as NEFT or RTGS for funds transfer. If the amount is less, we suggest you do the IMPS transfer as it’s quicker than NEFT.
Step 7: Enter details such as your account number, beneficiary name and account details and amount to be transferred along with remarks.
Authenticate the transaction with OTP and you’re done.
RBL Bank Savings Account : FAQs
RBL Woman’s First Savings account is designed only to cater to the needs of women of the country. It comes with lower minimum balance requirement and free cash withdrawals among other features and benefits.
Currently, the highest RBL savings account interest rate is 7.00% per annum.
Yes, RBL Bank Seniors First Savings Account is designed especially for Indian citizens aged 60 years or more. The monthly avg. balance is Rs 5,000 and is thus flexible and easy to maintain.
You get online banking access, high interest rates, free ATM cash withdrawals, SMS banking and more on opening an RBL savings account.
You only need two things to open an RBL Bank savings account online- Aadhaar and PAN.
