RBL Bank offers GO Savings Account with zero balance feature

RBL Bank offers GO Savings Account with zero balance feature. The comes with interest rates of up to 7.5% per annum, a premium debit card, vouchers worth ₹1,500 for premier brands, comprehensive cyber insurance cover, accident and travel insurance up to ₹1 crore, free CIBIL report, and other premium banking services, the lender said in a statement.

"These features are bundled into a single package at first year subscription fee of ₹1,999 + taxes and annual renewal fee thereafter of ₹599 + taxes," RBL Bank said.

To qualify for the high interest rates of up to 7.5% per annum, customers must meet specific criteria, such as maintaining a minimum balance or fulfilling transaction thresholds.

Additionally, the account provides comprehensive insurance coverage, including cyber, accident, and travel insurance, but users should carefully review the coverage details, exclusions, and claim procedures.

Understanding the terms related to the premium debit card, vouchers, and fee-free transactions is also important to avoid unexpected charges, the lender mentioned.

Deepak Gaddhyan, Head of Branch and Business Banking, RBL Bank, said, “The launch of ‘GO Savings Account’ bridges the gap between traditional and digital banking by offering a compelling value proposition for customers."

"Frequent travelers are attracted to the travel insurance benefits and fee-free transactions, while savers and investors seek to maximise their savings with competitive interest rates and access to complimentary CIBIL reports," he said.