Arjun is a small businessman. Although Arjun earns a modest income, he is very smart when it comes to saving his money. With RBL Bank's GO Savings Account, Arjun found an ideal solution to all his saving needs.

This digital account requires no minimum balance, giving him a list of benefits that can help manage his finances more efficiently. Just a small yearly subscription, and he earns 7.5% interest on his savings, so his money grows for him.

Not only did Arjun get a premium debit card, but he also received insurance coverage for cyber fraud, accidents, and travel up to ₹1 crore. That helped him remain at ease while administering business and personal expenses.

Thanks to mobile and internet banking, Arjun could keep track of his transactions conveniently and manage his funds proficiently, making banking on the go hassle-free.

He soon made RBL Bank's GO Savings Account his default account to manage his money, which offers unlimited ATM withdrawals and many more such benefits. For Arjun, smart banking with RBL was the way to his financial growth and success.

About RBL Bank Savings Account

RBL Bank savings accounts have essential benefits, including a debit card, a chequebook, internet banking, and mobile banking access. In order to suit different needs, the bank has provided a customised range of solutions that offer varied privileges and rewards.

The customer has various options of savings accounts available according to his eligibility and minimum balance requirement, so as to give a tailored experience. These are made to appeal to a wide variety of users who provide convenience and flexibility.

Interest Rates of RBL Bank Savings Account

Here's the information about the interest rates of RBL Bank Savings accounts in a table format

Bank Balance	Interest Rate (p.a.)
Up to ₹1 lakh	3.50%
Above ₹1 lakh up to ₹10 lakh*	5.50%
Above ₹10 lakh up to ₹25 lakh*	6.00%
Above ₹25 lakh and up to ₹3 Crore*	7.50%
Above ₹3 Crore up to ₹7.5 Crore*	6.50%
Above ₹7.5 Crore up to ₹50 Crore*	6.25%
Above ₹50 Crore up to ₹75 Crore*	5.25%
Above ₹75 Crore up to ₹125 Crore*	7.50%
Above ₹125 Crore up to ₹200 Crore*	6.00%
Above ₹200 Crore up to ₹400 Crore*	4.00%
Above ₹400 Crore up to ₹500 Crore*	6.75%
Above ₹500 Crore*	MIBOR** + 1%

Note: The interest rates are updated as of 9th January 2025, with effect from 30th October 2024.

Benefits of RBL Bank Savings Account

Here's the information about the benefits of RBL Bank savings accounts in a table format

Benefit	Description
No Minimum Balance	Some accounts do not require a minimum balance, making them accessible for customers with varying balances.
Free Transactions	Unlimited free transactions at RBL Bank ATMs, allowing customers to access their funds without extra charges.
Debit Cards	All accounts come with a debit card for easy access to cash and cashless transactions.
Higher Interest Rates	All accounts offer higher interest rates, helping customers earn more on their savings.
Insurance Benefits	Certain accounts provide insurance coverage, offering peace of mind to account holders.
Online Banking	Some accounts include online banking, enabling customers to manage their finances remotely.
Discounts	Discounts available on services like lockers, loans, and other banking services, saving customers money.
Free Credit Report	Free credit reporting services are available, allowing customers to monitor their credit health.

Types of RBL Bank Savings Account

1. Digital Savings Account

Details	Information
Monthly Balance Requirement	₹5,000* (Waiver if you start a recurring deposit or SIP of ₹2,000 or more)
Eligibility Criteria	PAN Card and Aadhaar Card required
ATM Charges & Monthly Withdrawal	Unlimited free transactions at RBL Bank ATMs; first 5 free transactions at other bank ATMs per month; no withdrawal limit
Debit Card	Virtual debit card
Other Features	Net-banking, Mobile Banking, Bill Pay, IMPS, NEFT, RTGS, online FD, RD, mutual fund booking, and complimentary air & accident insurance with a debit card.

2. RBL Rise Savings Account

Particulars	Details
Monthly Balance Requirement	₹50,000
ATM Charges & Monthly Withdrawal	Unlimited free withdrawals at RBL Bank ATMs, ₹1 lakh/day withdrawal limit, ₹2 lakh/day POS (online) limit
Debit Card	Crest Debit Card with welcome benefits worth up to ₹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 Platinum Maxima Credit Card, up to 20% discount on lockers, preferential loan pricing, higher withdrawal and deposit limits, easy access via Internet Banking, MoBank, WhatsApp Banking, RBL Cares, free tax and bill payments.

3. Advantage Savings Account

Particulars	Details
Monthly Balance Requirement	₹25,000
Eligibility Criteria	Must have an average balance of at least the minimum requirement set by the bank
ATM Charges & Monthly Withdrawal	Free withdrawals at RBL Bank ATMs, ₹1 lakh/day cash withdrawal limit, ₹2 lakh/day purchase limit
Debit Card	Higher limit Platinum MasterCard Debit Card
Other Features	Net-banking, Mobile Banking, ability to choose account number, free cheque book, demand drafts, RTGS, NEFT, free outstation cheque collections, up to 15% off on lockers, 25% off on Loan Against Property processing fee.

4. Prime Edge Savings Account

Particulars	Details
Monthly Balance Requirement	₹10,000
Eligibility Criteria	Must maintain at least the minimum balance required by the bank
ATM Charges & Monthly Withdrawal	Unlimited free cash withdrawals at RBL Bank ATMs
Debit Card	Titanium MasterCard with added insurance benefits
Credit Card	Available based on the terms and conditions
Other Features	Net banking, mobile banking, free payable-at-par cheque book, increased limits for demand drafts and pay orders, higher cash withdrawal and deposit limits, free tax and bill payments using internet banking.

5. Women’s First Savings Account

Particulars	Description
Monthly Balance Requirement	₹10,000
Eligibility Criteria	Must be a resident woman over 18 years of age; PAN Card is mandatory
ATM Charges & Monthly Withdrawal	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 account, complimentary debit card insurance, higher cash deposit and withdrawal limits, free tax and bill payments through internet banking, 10% discount on locker rental for the first year, and a complimentary card with insurance.

6. Senior Citizen Savings Account

Details	Description
Monthly Balance Requirement	₹5,000
Eligibility Criteria	Indian citizen aged above 60 years
ATM Charges & Monthly Withdrawal	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, free passbook facility for individual account holders, easy bill payments with Billpay, free online and phone banking, higher interest rates with Gain4Sure Fixed Deposits (including tax-saving deposits), 1% penalty waiver for premature withdrawal for senior citizens, instant debit card PIN and internet banking PIN via a single SMS.

7. Prime Savings Account

Here is the information in a table format

Particulars	Details
Monthly Balance Requirement	₹5,000 (Semi-Urban); ₹2,500 (Rural)
Eligibility Criteria	PAN Card is mandatory
ATM Charges & Monthly Withdrawal	Unlimited free transactions at RBL Bank ATMs; Cash withdrawal limit up to ₹50,000 per day; Shopping limit up to ₹1 lakh per day
Debit Card	Titanium MasterCard Debit Card
Other Facilities	Net banking, Mobile Banking, higher fixed deposit rates, wealth management services, insurance benefits on the debit card, personalized payable-at-par cheque book, monthly e-statements, NEFT and RTGS facilities.

8. Executive Savings Account

Particulars	Details
Monthly Balance Requirement	Zero balance account with no average monthly balance requirement
Eligibility Criteria	Offer letter of employment, employment contract, and introduction letter from the company (signed and stamped by authorized signatory); Monthly salary between ₹20,000 and ₹50,000
ATM Charges & Monthly Withdrawal	Free ATM withdrawals at RBL Bank ATMs; Free ATM withdrawals at other banks' ATMs up to ₹50,000/day; ₹1 lakh/day shopping limit with Titanium Master debit card
Debit Card	Visa Classic/Platinum Debit Card/Master Titanium/Platinum Master Debit Card
Other Features	Net banking, Mobile Banking, SMS Banking; Instant debit card and internet banking PIN via SMS; Complimentary cheque book; Outstation and local cheque collection; NEFT and RTGS facility; One free Demand Draft per month; SMS and Email alerts on every transaction; Monthly e-statements; Safe deposit locker facility.

9. Basics Savings Account

Particulars	Details
Monthly Balance Requirement	No Minimum Balance Requirement
ATM Charges & Monthly Withdrawal	Free transactions at RBL Bank ATMs (No limit on free transactions) ATM cash withdrawal limit of ₹50,000/day, ₹30,000/day for POS transactions
Debit Card	Free RuPay Card
Other Features	Internet Banking, Mobile Banking, SMS Banking, and notifications Free fund transfers via NEFT and RTGS Two free payable-at-par chequebooks per year (40 leaves) Higher Fixed Deposit rates E-statements Online bill payment services Free card replacement if damaged

What is the required minimum balance for an RBL Savings Account?

Digital Savings Account: The minimum balance of ₹5,000 is required, but if you have begun an RD or SIP worth ₹2,000 or more, then the balance is waived off. The account can also be turned into a zero-balance account.

Read More – RBL Bank Net Banking

Prime Savings Account: Minimum balance will vary depending on the location

₹5,000 in case you reside in a metro or urban area

₹2,500 in case of semi-urban area

₹1,000 in rural areas You can avoid this condition by opening an RD or SIP of ₹2,000 or more and then converting it to a zero-balance account.

Zero Balance Savings Account: This is a zero-balance account; hence no minimum balance is required to be maintained.

Women's First Savings Account: The balance amount to be maintained is ₹10,000.

What penalty is charged for not maintaining a minimum balance in RBL?

RBL Bank will penalise you if you do not have some balance in your savings account. The bank will calculate the penalty by how much you are falling short of the minimum required balance in your savings bank account, and it will not exceed more than ₹ 500 per month.

Let's understand this with the help of an example

Imagine you have an RBL Bank savings account. And the bank tells you that you must maintain at least a minimum balance of ₹5,000 every month. Now let's see what happens if you fail to maintain that balance.

You have ₹2,500 in one month. That is ₹2,500 less than the balance of ₹5,000 required. So, what will happen next?

Scenario 1: Your balance is more than 50% of the minimum requirement Assume your balance is ₹3,000. It is greater than 50% of ₹5,000, i.e., ₹2,500. Then, the penalty will be 5% of the ₹2,000 shortfall (the difference between ₹5,000 and ₹3,000).

5% of ₹2,000 = ₹100. So, the penalty you will face is ₹100. It's a small penalty because your balance was more than half of the required amount.

Scenario 2: The balance is below 50% of the minimum required Assume that your balance is ₹1,500 and less than 50% of ₹5,000 or ₹2,500. Here the penalty is quite high. It is 10% of the shortfall, which here is ₹3,500. ₹5,000 - ₹1,500.

10% of Rs. 3,500 = Rs. 350. So the amount of penalty charged is Rs. 350. Because your balance is way below the required amount, the penalty is higher.

But at least the highest penalty you could ever pay will be ₹500 per month and not the maximum 10% fee that can be charged otherwise by virtue of some huge shortfall in your balance.

Important Points

If your balance is more than 50% of the required minimum, you pay a small penalty (5% of the shortfall).
If your balance is 50% or less, the penalty is higher (10% of the shortfall).
And, no matter what, you can't be charged more than ₹500 per month.

What are the charges for an RBL Savings Account?

Service	Charges
Cheque book charges	₹2 per cheque leaf after the free limit (RBL Advantage Savings Account)
Stop payment charges	₹50 per cheque (RBL Advantage Savings Account)
Card issuance fees	₹150 for an international debit card (RBL Prime Savings Account; domestic cards are free)
Card replacement charges	₹50 for a lost debit card; free for a damaged debit card (RBL Prime Savings Account)
Non-maintenance charges	5% if the balance is above 50% of the minimum requirement, 10% if it is less than or equal to 50% (RBL Prime Savings Account)
Digital Savings Account joining fee	₹1,999 + GST
Digital Savings Account renewal fee	₹599 + GST per year

What are the transaction limits for an RLB Bank savings account?

Here are the limits for RBL Bank savings account transactions in detail.

1. Advantage Savings Account

Cash Withdrawals: ₹ 1 lakh per day.
Shop with POS: ₹2 lakh per day.
Withdrawal from ATM: Free from the RBL Bank ATM, free.

2. Basic Savings Account

Withdrawal from ATM: ₹50,000 per day.
Shop with POS: ₹30,000 per day.
Withdrawal from other Bank's ATM: 5 times free withdrawals in a month from other domestic ATMs.

3. Prime Savings Account

ATM Withdrawals: Unlimited transactions are free at RBL Bank ATMs.

4. Prime Edge Savings Account

ATM Withdrawals: Unlimited transactions are free at RBL Bank ATMs.
Cash Withdrawals: Free, unlimited at all RBL Bank ATMs.

How to Open Savings Account in RBL?

Required Documents to Open a Savings Account in RBL

Required Documents

PAN card
Aadhaar details
A blank sheet of paper and a pen for the Video Know Your Customer (Video KYC) process

Other Possible Documents

Proof of address (like a utility bill, ration card, bank statement, credit card statement, or voter ID)
Government-issued ID (like a driver's license or passport)
Social Security number
Date of birth
Contact information
Bank account details for funding the new account

Eligibility criteria for an RBL savings account

Be a resident of India
Be at least 18 years old
Have a valid Aadhaar card and PAN card
Use a mobile number linked to your Aadhaar
Live in a city where RBL Bank has a branch
Not already have a savings account or fixed deposit with RBL Bank

Here’s a step-by-step process on how to open a savings account in RBL offline

Visit the nearest branch of RBL.
Go to the new account section and ask for an application form.
Fill out the application form carefully and choose the type of account you want to open.
Submit the application form along with the documents.
The bank will verify the documents.
Once approved, the account will be opened within a few business days.

Here’s a step-by-step process on how to open a savings account in RBL online

Visit the official website of RBL Bank.
Click on ‘Products,’ the 1st option in the navigation bar.
Select option ‘Accounts’ from the drop-down menu.
Click on the ‘Savings Account’ option.
Now, select a savings account that suits your needs.
Click on ‘Apply Now’ under the savings account you want to open.
Click on ‘Open Savings Account’ in the top right corner of the page.
Enter your mobile number and promo code, and click on the ‘continue’ option.
Enter the OTP received on your registered mobile number and click on ‘Proceed.’
Enter your Aadhar card number and PAN card number, and click on ‘Proceed.’
Enter OTP received on your Aadhar card-linked mobile number and click on ‘Proceed.’
Fill in the details and click on ‘Save & Continue.’
Select your account and click on ‘Proceed.’
Fill in all your personal details, occupation details, and family details, and click on ‘Save & Continue.’
Select the type of Debit card and click on ‘Save & Continue.’
Recheck all the details and click on the ‘Confirm & Continue’ option.
Enter the OTP received on your registered mobile number and click on ‘Proceed.’
This is how you can open a savings account in RBL Bank.

How to Close an RBL Savings Account?

Visit the nearest RBL Bank branch.
Fill out the account closure application form.
Submit the form along with the necessary documents.
Return your chequebook and any other related documents.
Ask for your balance to be transferred to another account, or request a cheque or demand draft in your name.

Tips while opening a savings account in RBL Bank

The appropriate savings account: RBL offers different types of savings accounts. Compare options such as the "GO Savings Account" so that you can pick up the one that serves your purpose.

Apply online: You can open most RBL savings accounts online. It is quite easy and fast.

KYC documents: You will require an Aadhaar and a PAN card for verification while opening the account.

Link your mobile number: Ensure that your mobile number is linked to Aadhaar for easy verification.

Minimum balance: Note that there may be a minimum balance requirement with some accounts.

Also Read - RBL Zero Balance Account

Interest rates comparison: Compare interest rates on accounts and make a good choice

Know fees: Read about maintenance charges, ATM usage charges, etc.

Nominee: Fill in all the nominee details so inheritance goes on without any hassle.

Customer service: Choose a bank with excellent customer service and easy access.

Customer Care Details

You can get in touch with RBL Bank's customer care for savings account help in the following ways:

Via Phone:

Call customer care at +91 22 6115 6300, available 24/7.
For credit card-related issues, call +91 22 6232 7777.
For SuperCard enquiries, call +91 22 7119 0900.

Via Email:

Email customer care at customercare@rblbank.com.
For API Banking help, email APIBanking@rblbank.com.
For partner support, email partnersupport@rblbank.com.

Via WhatsApp:

Send a message to RBL Bank's WhatsApp service at +84335 98888 using your registered mobile number.

Conclusion

RBL Bank offers different kinds of savings accounts, whether it is zero balance or higher rates of interest. One such story of growth has been that of Arjun, who witnessed his savings grow through the avenues of the GO Savings Account. Some of the benefits of this account include a premium debit card, a 7.5% rate of interest, and comprehensive insurance coverage.

It also has free ATM withdrawals, mobile banking, and no minimum balance requirements for saving and managing money. Whether you're looking for a simple account or one with perks, RBL has something for everyone: convenience, flexibility, and great rewards for your financial growth.

FAQs related to RBL Bank Savings Account

Q1: What are the transaction limits for an RBL Advantage Savings Account?

An Advantage Savings Account allows you to have a number of your choice. You can withdraw up to ₹1 lakh in cash daily and use it for shopping, with a daily shopping limit of ₹2 lakh.

Q2: What is the daily withdrawal limit for an RBL Savings Account?

The daily ATM withdrawal limit is ₹50,000, and the daily POS spend limit is ₹30,000. You can also generate your Debit Card PIN via SMS. Moreover, you get 5 free cash withdrawals each month at any domestic bank ATM.

Q3: What is the UPI transaction limit for RBL Bank?

The UPI transaction limit for RBL Bank is ₹1 lakh per day.

Other Bank Savings Accounts
Axis Bank Savings Account	HDFC Bank Savings Account
Bank of India Savings Account	AU Bank Savings Account
Union Bank Savings Account	SBI Savings Account
PNB Savings Account	Indian Bank Savings Account
Kotak Mahindra Bank Savings Account	ICICI Bank Savings Account