RBL Bank, one of the leading private sector banks in India, has revised its interest rates on savings accounts. According to the bank’s official website, the new rates are in effect from December 1, 2021, and savings account holders will now be eligible for interest rates of up to 6%. Besides higher interest rates, RBL Bank offers a variety of benefits to its savings account customers, including online banking, virtual debit card for online shopping, bill payments, etc. ., 24/7 fund transfer service via UPI, NEFT, IMPS, RTGS, no charge for non-maintenance of balances, and much more.
RBL bank savings account interest rate
As of December 1, 2021, the following interest rates on savings deposits (including NRE / NRO savings) are in effect.
|Daily balance||Interest rate (pa) in effect until November 30, 2021||Interest rate (pa) of December 01, 2021|
|Up to Rs. 1 lakh||4.25%||4.25%|
|Above Rs. 1 lakh up to Rs. 10 lakh||5.75%||5.50%|
|Above Rs. 10 lakh and up to Rs. 3 crores||6.00%||6.00%|
|Above Rs. 3 Crore up to Rs. 5 crore||6.00%||6.00%|
|Source: Bank website|
RBL Bank current account and savings account charges
The following changes to the Fee Schedule for RBL Savings Accounts (SA) and RBL Current Accounts (CA) are effective from July 1, 2021.
|Sr No||Fee type||Type of account||Current structure||Proposed structure|
|1||Average monthly balance||Special Institutions Account – Current and Savings||Rs. 10,000||Rs. 50,000|
|2||Non-maintenance costs||Special Institutions Account – Savings||If the maintained balance is> 50%, then 5% of the balance deficit||If the maintained balance is> 50%, then 5% of the balance deficit|
|If the maintained balance is||If the maintained balance is|
|Rs maximum. 500 per month||Rs maximum. 750 per month|
|3||Non-maintenance costs||Special Institutions Account – Current||If AMB is||If AMB is|
|Balance If AMB is> 50% – Rs. 100||If AMB is> 50% – Rs 500|
|All charges are exclusive of GST. Source: Bank website|
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Article first published: Friday, December 3, 2021, 1:02 PM [IST]