Get attractive interest rates with the RBL Bank Digital Savings Account – Prime
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The RBL Bank Digital Savings Account – Prime is a fully digital account that can be conveniently opened online through the bank’s website or mobile application. This account is designed to provide a seamless banking experience without the need to visit a physical branch.
One of its key features is that it is a zero-balance account, meaning there is no requirement to maintain a minimum balance. However, this is subject to the account holder maintaining a recurring deposit or SIP of over ₹2,000. The savings account comes with various attractive benefits, including competitive interest rates, which are typically higher than those offered by traditional savings accounts.
You can earn returns on your savings at the following interest rates with a RBL Bank Digital Savings Account – Prime:
Daily balance |
Rate of Interest |
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 up to ₹2 Crore |
7.50 |
Above ₹2 Crore and up to ₹3 Crore |
7.50 |
Above ₹3 Crore and up to ₹7.5 Crore |
6.50 |
Above ₹7.5 Crore up to ₹25 Crore |
6.25 |
Above ₹25 Crore up to ₹50 Crore |
6.25 |
Above ₹50 Crore up to ₹75 Crore |
5.25 |
Above ₹75 Crore up to ₹100 Crore |
7.50 |
Above ₹100 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 + 100 bps |
*Note: These savings account interest rates are applicable on daily balances over ₹1 Lakh and are subject to change at the bank’s discretion. The rates mentioned above are effective from October 30, 2024.
Features and Benefits
The following are some of the characteristics and advantages of opening an RBL Bank Digital Savings Account – Prime:
Minimum Monthly Average Balance (MAB):
Maintain an MAB of ₹5,000, or convert to a zero-balance account if an RD or SIP of ₹2,000 and above is maintained
Free Digital Transactions:
No need to pay any fees for transactions done through UPI or NEFT
Virtual Debit Card
Get a free virtual debit card for online shopping, scan-and-pay services, etc.
Easy Investment Options
Maximise savings by depositing any surplus into a Fixed Deposit (FD) or invest in mutual funds with low minimum investment amounts
Convenient Bill Payments
Pay your utility and other bills with the account’s bill pay feature
Mobile Banking
Log into the RBL MoBank application to access various banking services
Here are the charges associated with an RBL Bank Digital Savings Account – Prime:
Fee |
Amount |
Monthly Average Balance |
₹5,000 or zero balance (if an RD or SIP of ₹2,000 is maintained) |
Non-maintenance Charge |
Up to ₹500 per month |
NEFT/RTGS Outward through Digital Channels |
Free |
Cash Withdrawal |
From RBL Bank’s ATM: Free
From Other Bank’s ATM:
(After 5 free transactions) |
Account Closure Charges (If closed within 6 months) |
₹500 |
Note: The fees and charges mentioned above are effective from 7th April 2024. They may change depending on the bank’s rules and policies.
Here are some of the documents you need to submit during the RBL Bank Digital Savings Account opening process and video KYC:
- PAN card
- Aadhaar card
Also, keep a blank piece of paper and pen near during the application process. If you are looking for a savings account offering the best interest rates, you can compare different offers on Bajaj Markets. You can also easily open one of them having terms and conditions best suited to you.
Frequently Asked Questions
What are the eligibility criteria to open an RBL Bank Digital Savings Account – Prime?
To open an RBL Bank Digital Savings Account – Prime, you need to be a resident Indian having a valid PAN card and an Aadhaar card linked to your mobile number. Moreover, you must be residing in cities where the bank has branches or within its serviceable area.
How can I open a digital savings account?
You can open a digital savings account with RBL Bank on its online portal or mobile application in simple steps. All you need to do is provide your PAN card and UID details, complete Video KYC, and fund your account.
How does a virtual debit card differ from a physical debit card?
Unlike a physical debit card, a virtual debit card does not exist in physical form. However, it has a card number, expiry date, and CVV that you can use for transactions.
How can I transfer funds through a digital savings account?
You can use various methods to transact through your RBL Bank Digital Savings Account – Prime. For instance, you can transfer funds through UPI, NEFT, RTGS, IMPS, or debit card.
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