RBL Bank Current Account – All You Need to Know to Get Started

Assume you have a small retail establishment, "Spark Electronics," and you have opened an RBL Bank Exceed Express Current Account. This is how it works to your benefit:

• Unrestricted Transactions: You receive ₹1,00,000 of revenue from sales per week and remit payments to vendors with no restrictions.

• Money Flow Management: With online banking, you follow ₹20,000 of outgoings monthly and analyze patterns.

• Overdraft Facility: When cash is tight, you may meet a bulk order through an overdraft of ₹50,000.

• Value-Added Services: You make bulk payments of ₹75,000 to vendors through the complimentary NEFT/RTGS facility, making timely orders assured.

RBL's digital solution and customised assistance enable your business to grow with hassle-free banking, with a mere ₹50,000 average balance requirement.

Motive of RBL Bank Current Account:

RBL Bank provides current accounts that enable smooth daily transactions for businesses. They deliver facilities such as cash management, trade finance, and foreign exchange to facilitate business development. 

The bank provides additional facilities such as online printing of cheques, payroll facilities, and bulk payments. RBL has various account options along with focused personal assistance by relationship managers and online banking for seamless account management.

Importance of Current Accounts for Businesses and Professionals:

Here's the information about the importance of current accounts for businesses and professionals, presented in a table:

Types of RBL Bank Current Accounts:

Features and Benefits of RBL Bank Current Accounts:

Here's the information about the RBL Bank Current Account features and benefits, presented in a table:

What are the fees and charges on RBL Bank's Current Accounts?

Here's the information about the fees and charges associated with RBL Bank Current Accounts, presented in a table:

Important Key Points:

• Charges can be different based on the current account you hold, for example, Business Current Account, Business Plus, or India Start-Up Club Current Account.

• You can review the current charges on the website of RBL Bank or inquire at your closest branch for more details.

• Transfers within RBL Bank might be free of cost.

Eligibility to apply for RBL Bank Current Accounts:

To open an RBL Bank Current Account, you need to fulfil the following eligibility criteria:

• Residency: You should be a resident of India and an Indian national.

• Age: You should be 18 years or older.

• Documents: You should have a valid Aadhaar and PAN card.

• Mobile Number: Your mobile number must be linked with your Aadhaar and registered.

• Business Type: The account can be opened by individuals and business entities such as sole proprietorships, partnerships, companies, LLPs, trusts, societies, and even foreign nationals residing in India.

Documents required to apply for RBL Bank Current Accounts:

To open an RBL Bank current account, you will have to submit the following documents:

For Individuals:

Application Form: Fill in the official application form of RBL Bank for a current account opening.

Identity Proof: Any one of the following:

• PAN Card
• Aadhaar Card
• Passport
• Driving License
• Voter ID Card

Address Proof: Any one of the following:

• Aadhaar Card
• Passport
• Utility Bill (electricity, telephone, gas)
• Property Tax Bill

Photographs: Two colour photographs of size passport.

Account Opening Cheque: A cheque of an existing current or savings account.

For Video KYC: A pen and a blank piece of paper.

How to apply for a RBL Bank Current Account online?

Here are the easy steps to apply for an RBL Bank Current Account online:

1. Open the official RBL Bank website.

2. Click on ‘Products’ in the 2nd option in the navigation bar.

3. Choose option ‘Business Banking’ from the drop-down menu.

4. Select option ‘Business’ and then click on the ‘Parenting Your Growth’ option.

5. Scroll down a bit and click on ‘Know More’ under the ‘Current Accounts’ option.

6. Choose the current account type you wish to open (such as Standard Current Account, Exceed Global Extra, etc.), 

7. Click on the "Apply Now" button to begin the application.

8. Complete the Application Form: 

• Complete the online form with your business and personal information.
• Ensure you provide correct information, such as your PAN, Aadhaar, and other documents as may be necessary.
• You may be required to upload scanned copies of these documents.
  
  

9. Carefully re-check all the information you've provided. After ensuring everything is correct, apply.

10. The bank can request you to do a KYC (Know Your Customer) verification.

11. Your current account will be opened once your application is approved and the KYC process is done.

Key Points:

• Make sure you keep all relevant documents and information in hand while completing the online application.

• Make sure you have your Aadhaar and PAN cards in hand.

• Depending upon the nature of the current account, one may have to pay a joining fee or maintain a minimum balance.

• If queries or help are needed, you may contact RBL Bank's customer care.

How to apply for an RBL Bank Current Account offline?

These are the easy steps to open an RBL Bank Current Account at a branch:

1. Find an RBL Bank Branch: Search for the nearest RBL Bank branch.

2. Request and Fill Out the Application Form: At the branch, request the current account application form. Fill out all the details asked for, such as your personal and business details.

3. Gather and Submit required documents:

• Proof of Identity: PAN card, Aadhaar card, Voter ID, Passport, or Driving License.
• Proof of Address: Utility bill (electricity, phone, etc.).
• Business Documents: If you have a business, submit documents such as a partnership deed or company registration certificate.

4. KYC Process: The bank will authenticate your identity through the Know Your Customer (KYC) process.

5. Account Activation: Once your documents and application are checked, your account will be opened, and you will be sent a welcome kit including your passbook, chequebook, and debit card (if applicable).

RBL Bank Current Account vs Competitor Banks:

Here’s the comparison table about the RBL and other competitor banks and their current accounts in a simple table format:

Customer Care Details related to RBL Bank's Current Account:

Phone Numbers:

• General Customer Care: +91 22 6115 6300 (Available 24/7)
• Credit Card Help: +91 22 6232 7777
• SuperCard Help: +91 22 7119 0900
  
  

Email:

• General Help: customercare@rblbank.com
• Credit Card Help: cardservices@rblbank.com
• SuperCard Help: supercardservice@rblbank.com
  
  

Other Options:

• Visit any RBL Bank branch for help.
• WhatsApp Banking: Send "Hi RBL" to 84335 98888 (from your registered mobile number).
• Microfinance Help: +91 22 6184 6300
• API Banking Help: APiBanking@rblbank.com
• Partner Support: partnersupport@rblbank.com
• CIB Queries: ceb.support@rblbank.com
• Missed Call Service: Call 7045 906 905 and hang up to get updates.
  
  

Conclusion:

RBL Bank has a range of current accounts tailored to the specific needs of companies, be they small traders, contractors, or multinational companies. With unlimited transactions, simple management of cash flow, and extra benefits such as free NEFT/RTGS transfer and overdraft facilities, RBL promises seamless banking. 

Be it day-to-day operations, bulk payments, or export-import business, RBL offers solutions customised for every company. Opening an RBL Bank current account is a breeze, online or offline, with complete assistance through customer care. Opt for RBL to empower your business with seamless and efficient banking!

FAQs related to RBL Bank's Current Account:

Q1: What is the speciality of a Current Account?

A current account offers instant access to funds without earning interest. This liquidity is provided to businesses for daily transactions, with no interest charged on the balance.

Q2: What is the key aspect of a Current Account?

The trade balance, which reflects the difference between exports and imports of goods and services, is the most important part of a current account, impacting GDP and economic growth.

Q3: What is the primary goal of a current account?

The main objective of a current account is to facilitate regular, unrestricted transactions like deposits, withdrawals, and transfers, ensuring businesses or individuals can manage daily financial operations efficiently.

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