RBL Bank Current Account

• Instant money transfer
• 24x7 ATM withdrawals
• Attractive rate of interest

Apply Now

RBL Bank has been recognised as one of the country’s fastest growing private sector banks. Since its establishment, the bank has expanded the scope of its operations to a wide range of financial products and services.

One of the many services that the bank offers its customers is the current account. A current account is a type of bank account where there are very high limits on the withdrawals and deposits made to the account. The account provides account holders with high liquidity and, in several cases, an overdraft facility. Current accounts are usually used by individuals who run businesses and have high influx and outflow of cash.

RBL Bank has 6 variants of the current account. Customers can choose the account that best meets the financial needs of their business ventures. The features and benefits of the current accounts offered by RBL Bank are as follows:

Traders Current Account

The RBL Traders Current Account was set up to help small businesses grow faster. The account provides customers with the financial services that are very specific to their business. The following are some of the features and benefits of the account:

• Account holders are permitted to make cash deposits up to Rs.15 lakh per month.
• The bank provides its Traders Current Account holders the privilege of banking at any of the RBL Bank branches.
• Account holders can have their cheques cleared from any of the bank’s 1,600 locations, including RBL Bank’s partner banks.
• Account holders can carry out transactions from anywhere using the bank’s NEFT and RTGS facilities.
• RBL Bank enables its customers to make payments for indirect and direct taxes through the bank’s internet banking facilities.
• Account holders are provided with a debit card on opening their account. Making payments through the bank’s debit card facilities makes the account holder eligible to avail discounts and rewards from the bank.
• The bank provides customers with the privilege of availing loans for short-term finance requirements. The bank provides a variety of loans solely for the customer’s business requirements.
• Traders Current Account holders can avail the bank’s doorstep banking facility to pick up and drop off cash and cheques.

Exceed Business Banking

The Exceed Business Banking Account provides account holders with the privilege of banking support in terms of its business expertise. Account holders can strengthen the finances of their business using the bank’s exceptional services. The following are the features and benefits of this account:

• The Exceed Business Banking Account provides account holders with the facility of mobilising the funds for their business in a simple and seamless manner.
• Account holders have a flexible cash limit for deposits. These limits are determined based on the average balance of the previous month.
• RBL Bank provides its Exceed Business Account holders with Demand Drafts, payable at par cheque books, and cheque collection services free of charge.
• Account holders can also avail the bank’s NEFT and RTGS services free of charge.
• The bank provides a number of variants of business loans for its Exceed Business Account holders.
• Account holders can avail discounts on export and foreign exchange services.
• The bank provides customers with import letter of credit, direct bills, and bill collections for imports.
• Account holders receive a Platinum debit card on opening their account.

Business Account

The Business Account provided by RBL bank helps customers grab business opportunities using the bank’s financial services. The following are some of the account’s features and benefits:

• Account holders can mobilise their funds easily using the bank’s services.
• RBL Bank provides account holders with Letter of Credit (LC) on request for trade-related services.
• Account holders receive a free Visa International debit card on opening their account.
• Account holders can carry out unlimited ATM transactions and can avail a number of benefits and discounts through the use of their debit card.
• Account holders can avail loans against their account for the purpose of expanding their business.
• Customers can make income tax payments online using the bank’s internet banking facilities.
• RBL Bank also provides account holders with Bank Guarantee (BG) for cash collateral against domestic and international business transactions.
• Additional facilities provided by the bank include outstation cheque collection, bill payments, phone banking, and SMS banking.

Self Employed Professional Current Account

The Self Employed Professional Current Account has been designed to provide financial solutions to individuals who have specialised educational or legal qualification and require active engagement to become part of a professional body. The following are the features and benefits of the account:

• RBL Bank permits account holders to make free cash deposits up to Rs.5 lakh at all RBL Bank branches.
• Account holders can make unlimited deposit and withdrawal transactions on a daily basis.
• Account holders receive a Platinum debit card on opening their account. The debit card provides account holders with a number of benefits and reward points on the transactions carried out.
• The bank offers special rates on its loan products for its Self Employed Professional Current Account holders.
• Customers can avail the bank’s doorstep banking facilities which include cash pick up and delivery, cheque pick up and delivery, and collection of other trade documents.
• Tax payments can be made through the bank’s internet banking facilities.

India Start Up Club (ISC) Current Account

The India Start Up Club Current Account was established to help new entrepreneurs with all the tools that they require to kick-start their business. It provides account holders with tech-savvy financial solutions that help grow their business. The following are some of the features and benefits of the account:

• The bank provides account holders with the flexibility of transacting from any part of the country through its outstation cheque collection facilities.
• ISC Account holders have the benefit of carrying out unlimited ATM transactions at both RBL Bank and other bank ATMs.
• ISC account holders can use the RBL Bank’s Application Program Interface (API) solutions to help with automating payments. Additionally, account holders can also upload instructions with reference to payments, alerts on credits made to the customer’s account, and alerts on payments made by the account holder’s customers.
• The bank can help account holders set up a payment gateway at no extra charge.
• RBL Bank allows its ISC account holders the facility of paying their direct taxes online.
• Account holders have the benefit of enjoying the bank’s partner services. These services include company registration, taxation services, office space, and social media marketing among many others.
• A dedicated customer helpline has also been set up exclusively for any queries and issues that ISC Current Account holders may face.

Exceed Global Trade Current Account

The Exceed Global Trade Current Account has been crafted to cater to the financial needs of those individuals who carry out cross-border transactions in addition to domestic transactions. The account comes in two variants, each of which have customised requirements.

• Exceed Global Extra

  • The expected quarterly throughput for this account is $50,000.
  • Import services include advance import remittances, direct import remittances, and import bills on collection at Rs.350 per transaction.
  • Export services include export bills for collection, export bill for regularisation, and export LC advising at Rs.350 per transaction.
  • Inward remittances do not attract any service charges.
  • Non-trade outward remittances attract a fee of Rs.350 per transaction.
  • FIRC and e-BRC services do not attract any charges.
  • SWIFT and couriers incur a fee of Rs.200 and Rs.500 per transaction, respectively.
  • Non-maintenance of the quarterly throughput attracts a charge of Rs.2,000 if the amount is above 50% and Rs.1,000 if the amount is below 50%.

• Exceed Global Elite

  • Account holders are expected to maintain a quarterly throughput of $200,000.
  • Import services include advance import remittances, direct import remittances, and import bills on collection at Rs.100 per transaction.
  • Export services include export bills for collection, export bill for regularisation, and export LC advising at Rs.100 per transaction.
  • Inward remittances do not attract any service charges.
  • Non-trade outward remittances attract a fee of Rs.100 per transaction.
  • FIRC and e-BRC services do not attract any charges.
  • SWIFT and couriers incur a fee of Rs.100 and Rs.250 per transaction respectively.
  • Non-maintenance of the quarterly throughput attracts a charge of Rs.4,000 if the amount is equal to or above 50% and Rs.2,000 if the amount is below 50%.

RBL Bank’s current accounts provide account holders with a comprehensive and convenient method of carrying out their business transactions. In addition to the number of options available, customers also have the added benefit of personalised banking experience that helps grow their business.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.