RBL Bank Executive Salary Account

RBL Bank Executive Salary Account is a zero-balance savings account. This savings bank (SB) account is for salaried class individuals. The account applies minimal charges and provides a bunch of exclusive offers to the customers. Individuals with a monthly salary between Rs. 20,000 and Rs. 50,000 can access this bank account. The customers experience hassle-free and convenient banking with this unique salary account. You can withdraw up to Rs. 50,000 in a day on the Titanium Debit Card. You will also receive a free cheque book, RTGS/IMPS/NEFT facility, etc.

In this post, we will discuss RBL Bank Executive Salary Account features, eligibility for this savings account, balance requirement, cash withdrawal limits, transfer of funds, and other provisions.

Feature of RBL Bank Executive Salary Account

Here are the features of this RBL Bank Savings Account:

1. NIL Minimum Balance Requirements: With RBL Bank Executive Salary Account, you need not worry about the minimum balance requirements in your account. The bank does not charge any fee even if you keep your balance NIL for months.
2. Eligibility: Every salaried individual has a monthly salary of Rs. 20,000 to Rs. 50,000 is eligible for opening an account under the RBL Bank Executive Salary Account scheme. The eligible applicants can submit the application form along with KYC documents and proof of their salary i.e., employment letter. An introduction letter from the employer is also required to be submitted which should be signed and stamped by the authorized officials.
3. Enhanced Cash Withdrawal Limits: The bank offers an enhanced limit of cash withdrawal through the Titanium Debit Card offered with the account which enables the account holders to withdraw as much as Rs. 50,000 from the salary account in a day and shop for up to Rs. 100,000 in a single day.
4. Security of Account: The bank takes care of the security of your account while you make any transaction in your RBL Bank Executive Salary Account. OTP service is enabled for every transaction being done from your account
5. Free Cheque Book: The bank offers its customers a personalized at par payable cheque book every quarter in RBL Bank Executive Salary Account.
6. Competitive Rate of Interest: The bank offers an interest rate that is at par with other saving schemes of the bank and is competitive in the market. The rate of interest offered by the bank is subject to change on a regular basis. The bank pays you interest as per the balance available in your RBL Bank Executive Salary Account. The slabs of ROI are as under:
• Balance of Rs. 3.00 crores to Rs. 5.00 crores- 6.00% per annum
• Balance of 10.00 lakh to Rs. 3.00 crores- 6.00% per annum
• Balance of Rs. 1.00 lakh to Rs. 10.00 lakh- 5.75% per annum
• Balance up to Rs. 1.00 lakh- 4.25%
7. Debit Cards: One can opt for any of the following variants of debit card, as per individual preference-
• Master Titanium Debit Card
• Visa Classic Debit Card
• Platinum Master Debit card
• Platinum Debit Card
8. Relationship Manager: With your account opened under the RBL Bank Executive Salary Account scheme, the bank offers you the service of a personal relationship manager who helps you in making financial decisions and wealth management. This service is offered free of cost for every account holder under this scheme.
9. ATM Transactions: The bank has a wide network of ATMs throughout the country. The customers having accounts under the RBL Bank Executive Salary Account scheme can transact any number of times through the Bank’s ATMs for free. The bank also offers a higher number of ATM transactions through another bank ATM Machines.
10. PIN Change and Generation Service: The bank offers a free-of-cost PIN generation and PIN change facility to all its customers through a secured OTP-based SMS service.
11. Transfer of Funds: The bank offers a free-of-cost acceptance of online transferred funds through RTGS (Real Time Gross Settlement), NEFT (National Electronic Funds Transfer), and IMPS (Immediate Payment System). A minimal fee is charged if the funds are to be transferred from your RBL Bank Executive Salary Account.
12. Term Deposits: The customers under this scheme can choose a term deposit account from the bunch of such products offered by the bank. The bank has also floated a special tax-saving term deposit account for salaried individuals.
13. Online Facilities:
• Mobile Banking- The bank offers you a dedicated mobile banking application that caters to your banking needs through mobile phone. The application helps you to perform all the transactions through your mobile phone which are there in internet banking.
• Internet Banking- Internet banking helps you to perform various financial as well as non-financial banking transactions through the internet such as transfer of money, applying for a new cheque book, buying sovereign gold bonds, etc.
• Phone Banking- Through phone banking, you get access to various non-financial transactions and customer support over the phone. The bank has a dedicated 24x7 customer care center.
• SMS Banking- SMS banking enables you to get access to various banking transactions through SMS service on your mobile.