Devaluation RBL Savings Account Interest Rate | RIP

[shashankverma]

Attention of customers/public is invited on the changes in interest rates Saving Deposits w.e.f. February 15, 2025

Interest rates on Savings Deposit (including NRE/NRO Savings)​

Up to Rs 1 lakh Entire Balance 3.25


Above Rs 1 lakh upto Rs. 5 lakh Balance > 1 lakh 4.50


Above Rs 5 lakh upto Rs. 10 lakh Balance > 1 lakh 5.50


Above Rs 10 lakh upto Rs. 25 lakh Balance > 1 lakh 6.50


Above Rs 25 lakh upto Rs. 3 Crore Balance > 1 lakh 7.50


Above Rs. 3 Crore and upto Rs. 7.5 Crore Balance > 1 lakh 6.50


Above Rs 7.5 Crore upto Rs.50 Crore Balance > 1 lakh 6.25


Above Rs 50 Crore upto Rs. 500 Crore Balance > 1 lakh 6.00


Above Rs.500 Crore Balance > 1 lakh MIBOR+100 bps


* Conditions Apply. Rates are subject to change at the sole discretion of RBL BANK.

 

[doraemon]

Kya hogya hai
Har jagah devaluation

 

[shashankverma]

This was the last full-fledged bank with a high interest rate for parking <10L liquid money.
With this change, no benefit if you keep less that 1 Lac. Just close your account. For other slabs they have not yet changed.

 

[Humanbeing]

This was the last full-fledged bank with a high interest rate for parking <10L liquid money.
With this change, no benefit if you keep less that 1 Lac. Just close your account. For other slabs they have not yet changed.

Still better than most of the banks, think about the DCB which is giving 1.75% upto 1 Lakh whereas RBL is giving 3.75% upto 1 Lakh.

 

[shashankverma]

Still better than most of the banks, think about the DCB which is giving 1.75% upto 1 Lakh whereas RBL is giving 3.75% upto 1 Lakh.

DCB is not a bank it's a joke.

 

[Shiv]

Attention of customers/public is invited on the changes in interest rates Saving Deposits w.e.f. July 01, 2024
Interest rates on Savings Deposit (including NRE/NRO Savings)

Daily balance	Rate of Interest (p.a.) Effective till June 30, 2024	Rate of Interest (p.a.) Effective from July 01, 2024
Upto INR 1 lakh	4.25%	3.75%
Above INR 1 lakh upto INR 10 lakh*	5.50%	5.50%
Above INR 10 lakh upto INR 25 lakh*	6.00%	6.00%
Above INR 25 lakh and upto INR 2 Crore*	7.50%	7.50%
Above INR 2 Crore and upto INR 3 Crore*	7.00%	7.00%
Above INR 3 Crore upto INR 7.5 Crore*	6.50%	6.50%
Above INR 7.5 Crore upto INR 25 Crore*	6.25%	6.25%
Above INR 25 Crore upto INR 50 Crore*	6.25%	6.25%
Above INR 50 Crore upto INR 75 Crore*	5.25%	5.25%
Above INR 75 Crore upto INR 100 Crore*	7.75%	7.75%
Above INR 100 Crore upto INR 125 Crore*	7.75%	7.75%
Above INR 125 Crore upto INR 200 Crore*	6.00%	6.00%
Above INR 200 Crore upto INR 400 Crore*	4.00%	4.00%
Above INR 400 Crore*	6.75%	6.75%

RBL Bank Link

SO another bank that switched to below 4% Savings account interest rate.
Who's next?

Post Office Saving Bank gives 4% interest on entire amount.

 

[TheGuyTheGuy is verified member.]

Post Office Saving Bank gives 4% interest on entire amount.

and has 3500 extra tax free slab too.
Sovereign Guarantee. Theoretically safer than safest Indian Bank

 

[shashankverma]

Again interest rate reduced

 

[kn0w1]

Yes, it is pointless to have an account with this bank now. Unfortunately, I have multiple FDs maturing in December which is when I intend to close this account.

 

[insomniac911]

I was about to start an account... Good thing i stumbled across this. Thank you!

 

[sarcasm99]

Interest rates have been decreased once again

 

[dvader]

RBL has been working positively for the last 1 year and I think this is good for the lender.

IndusInd bank even after share price fall has posted good metrics and has retained (even increased the interest for 10-25L) the interest rates. It's one of the only big bang with strong interest rates.

 

[shashankverma]

I think IDFC is better bet any day.
We get 7.25% interest rate above 5 lac.
Monthly interest credit gives power of compounding.

Best Savings Account Interest Rate 2025 in India | IDFC FIRST Bank

Get high Savings Account Interest Rates up to 7.25% on your Savings Account Online. Open Savings Account & maximise your savings with best interest rate at IDFC FIRST Bank

www.idfcfirstbank.com

 

[dvader]

I think IDFC is better bet any day.
We get 7.25% interest rate

Yeah man but with anything 20L+ I don't trust IDFC branch guys at least in my area, as long as you don't need the branch guys IDFC has best IT, better processes, and ofc better interest rates.

Indusind seems to be the best trade-off if you ask me.

 

[shashankverma]

Yeah man but with anything 20L+ I don't trust IDFC branch guys at least in my area, as long as you don't need the branch guys IDFC has best IT, better processes, and ofc better interest rates.

Indusind seems to be the best trade-off if you ask me.

Branch people can't touch your money if you stop speaking to them

 

[dvader]

Branch people can't touch your money if you stop speaking to them

Nope it's not about touching the money, that's true for all banks, it's that they have no control on the all the processes. I have HNI accounts from both IDFC (Wealth) and IndusInd (Pioneer) and with Indusind there is always a manual way to find exceptions to get your work done. With IDFC, "sir the system won't let us do it". IDFC was also good when they had good interest in 1-5L segement but they nuked that too.

Then there is the issue of account freeze. IDFC if you ask me is good for day-to-day banking (0-5L) but not a contender for 'dump all your money' bank.

 

[shashankverma]

Nope it's not about touching the money, that's true for all banks, it's that they have no control on the all the processes. I have HNI accounts from both IDFC (Wealth) and IndusInd (Pioneer) and with Indusind there is always a manual way to find exceptions to get your work done. With IDFC, "sir the system won't let us do it". IDFC was also good when they had good interest in 1-5L segement but they nuked that too.

Then there is the issue of account freeze. IDFC if you ask me is good for day-to-day banking (0-5L) but not a contender for 'dump all your money' bank.

How do you maintain IDFC Wealth with keeping funds?
They won't charge you for Debit card?

 

[dvader]

How do you maintain IDFC Wealth with keeping funds?
They won't charge you for Debit card?

It's Wealth Select and I keep that much fund in IDFC. And for the same amount of money IndusInd and YesBank look way more promising and they actually are.

 

[shashankverma]

It's Wealth Select and I keep that much fund in IDFC. And for the same amount of money IndusInd and YesBank look way more promising and they actually are.

Wealth and Select are 2 different variants.
For Select Account you need to maintain 3L
For Wealth variant you need to maintain 10L

 

[dvader]

Wealth and Select are 2 different variants.
For Select Account you need to maintain 3L
For Wealth variant you need to maintain 10L

Yup it's select but eitherway doesn't matter. The point still stands. Even you if you have wealth there is not much you get with IDFC. With Indus and Yesbank I have both their mid tier accounts and Pioneer and Yes First. I got IDFC select, Indus Exclusive and Yes Prosperity Prime around the same time and in time given their service got 2nd accounts with IndusInd and YesBank. IDFC stayed at select for a reason.

However, If they kept their 5L and 10L interests a bit better, I could see going their way but over time they diluted their interest and it didn't make sense for me.