RBL Bank Revises Interest Rates On Savings Account: Now Get Up To 6%
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Investment
oi-Vipul Das
RBL Bank, one of India’s leading private sector banks has revised its interest rates on savings accounts. According to the bank’s official website, the new rates are in force from December 1, 2021, and savings account holders will now be eligible for interest rates of up to 6%. Apart from higher interest rates, RBL Bank provides a variety of benefits to its savings account customers, which include online banking, a virtual debit card for online shopping, bill payments, and more, 24*7 fund transfer facility via UPI, NEFT, IMPS, RTGS, no charges for non-maintenance of balances, and much more.
RBL Bank Savings Account Interest Rates
With effect from December 1, 2021, the following interest rates on Savings Deposits (including NRE/NRO Savings) are in force.
| Daily Balance | Rate of Interest (p.a.) effective till November 30, 2021 | Rate of Interest (p.a.) w.e.f. December 01, 2021 |
|---|---|---|
| Upto Rs. 1 lakh | 4.25% | 4.25% |
| Above Rs. 1 lakh upto Rs. 10 lakh | 5.75% | 5.50% |
| Above Rs. 10 lakh and upto Rs. 3 Crore | 6.00% | 6.00% |
| Above Rs. 3 Crore upto Rs. 5 Crore | 6.00% | 6.00% |
| Source: Bank Website |
RBL Bank Current Account & Saving Account Charges
The following changes to the Schedule of Charges for RBL Bank Savings Accounts (SA) and Current Accounts (CA) are in force from July 1, 2021.
| Sr No | Type Of Charges | Account Type | Present Structure | Proposed Structure |
|---|---|---|---|---|
| 1 | Average Monthly Balance | Special Institutions Account – Current and Savings | Rs. 10,000 | Rs. 50,000 |
| 2 | Non-Maintenance Charges | Special Institutions Account – Savings | If Balance maintained is >50% then 5% of balance shortfall | If Balance maintained is >50% then 5% of balance shortfall |
| If Balance maintained is | If Balance maintained is | |||
| Maximum Rs. 500 per month | Maximum Rs. 750 per month | |||
| 3 | Non-Maintenance Charges | 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 |
Story first published: Friday, December 3, 2021, 13:02 [IST]
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