Instant and Paperless
Virtual Debit Card
24x7 anywhere banking facilities
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*T&C Apply
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Digital Savings Account
Banking made easy with our Savings Account that's just a click away. Open digitally with the convenience of using your Aadhaar and PAN Card. You can start enjoying the benefits immediately. Don't wait, experience easy banking now.
Earn up to
7.50 * % p.a.
Savings Account
View Rates
8.10 * % p.a.
Fixed Deposits
View Rates
*T&C Apply
Key Benefits
When you open this Savings Account, you also receive a Virtual Debit Card that can be used for online shopping, recharges, scan-and-pay at retail locations, and other bill payments.
This Savings Account makes investing incredibly simple. Easily deposit any extra money into a Fixed Deposit to maximize your savings. You can also invest your money in mutual funds. Just make an SIP or RD for at least INR 2,000. (Applicable only on Digital Savings Account – Prime)
Easily pay bills with the Digital Savings Account's bill-pay feature. Pay electricity, telephone, mobile, gas, and other bills conveniently and never worry about being late.
This is another significant benefit of having this Savings Account. Simply log onto RBL MoBank whenever you wish to view any transactions that have taken place in your account, and you'll get all the details in one place.
Avail Virtual Debit Card
Get this for your daily transactions and live your life stress-free. With no annual fees, you can easily use this Debit Card for online purchases and payments just like a traditional debit card.
Once you've set up the Digital Savings Account, your Virtual Debit Card will be accessible through RBL MoBank app (subject to verification).
Access RBL MoBank App >> On the home page, click the RBL Bank icon >> Your Debit Card Management >> Learn more about your Virtual Debit Card >> For all of your transactions, use your card number and CVV.
The usage of this card is possible for online shopping, recharges, scan-and-pay at retail locations, and bill payments.
Complimentary accident and air insurance.
FAQs
You can open it in two ways: by visiting our website or by installing the RBL MoBank App. In both cases, you must provide your mobile phone number as well as your Aadhaar and PAN card numbers.
Your Digital Savings Account makes money transfers quick and easy. You can transfer money in a variety of methods, and most of them are cost-free. The quickest method is IMPS, which enables instantaneous money transfers at any time, on any day of the week, including on holidays. There can be a minor fee associated with this. The services like 24-hour NEFT service and RTGS can be used to send greater sums of money—over INR 2 lakhs.
You must maintain a consistent balance in your account of INR 5,000. If you start an SIP or Recurring Deposit for INR 2,000 or more, you can get the average balance requirement waived.
Deposit interest is applied to your income and taxed in accordance with your tax bracket. However, under section 80 TTA of the Income Tax Act, interest from savings accounts up to INR 10,000 earned in a fiscal year is free from taxation.
The number of ATM withdrawals you can make from an RBL Bank Digital Savings Account is unrestricted. The amount you can remove each month is up to you. After the sixth transaction, ATM withdrawals from other banks will incur fees.
Both FDs and RDs must be booked for a minimum of INR 5,000 and INR 1,000 respectively.
You can conduct transactions with your Digital Savings Account using a computer or a mobile device. Please download RBL MoBank App from Google Play Store or App Store on your mobile device. You may perform a variety of operations using the app, including checking balances, transferring money, opening a savings account, and even applying for credit cards and loans.
You can make an online reservation for an RD using your savings account.
- Online banking: Username and password required for login >> to select requests go to the check select "new cheque book"
- RBL MoBank App: Sign in using your MPIN >> Click on requests. Choose Cheque book Services. Select "Request Cheque book"
- Please take note that only after your entire KYC is completed can a cheque book be supplied for your Digital Savings Account.
***Savings Account Interest Rates
| Daily balance | Rate of Interest (p.a.) w.e.f. August 21, 2023 |
|---|---|
| Upto INR 1 lakh | 4.25% |
| Above INR 1 lakh upto INR 10 lakh* | 5.50% |
| Above INR 10 lakh upto INR 25 lakh* | 6.00% |
| Above INR 25 lakh and upto INR 2 Crore* | 7.50% |
| Above INR 2 Crore and upto INR 3 Crore* | 7.00% |
| Above INR 3 Crore upto INR 7.5 Crore* | 6.50% |
| Above INR7.5Crore upto INR 25Crore* | 6.25% |
| Above INR 25Crore upto INR 50 Crore* | 6.25% |
| Above INR 50 Crore upto INR 100 Crore* | 5.25% |
| Above INR 100 Crore upto INR 200 Crore* | 6.00% |
| Above INR 200 Crore upto INR 400 Crore* | 4.00% |
| Above INR 400* | 6.75% |
* On daily balances in excess of INR 1 Lakh
With effect from April 1, 2016, the periodicity of payment of interest on Savings Bank Account has been changed to quarterly. Accordingly savings Bank interest calculated on daily product basis will be paid at quarterly intervals on 30th June, 30th September, 31st December & 31st March each year.
To understand the interest calculation with an example click here.
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