You can also get interest on savings account like fixed deposit i.e. FD, and there is no restriction on minimum balance. Know here about this special savings account and all its benefits.
Zero Balance Account: It is generally very important to maintain minimum balance in a savings bank account. If you do not do this, banks charge you a penalty. If we talk about interest on savings account, then usually the interest on savings account is around 4 percent, but there is one bank where you can get interest like fixed deposit i.e. FD on savings account, along with no minimum balance. No restrictions. Let us tell you about the special savings account of this bank.
These are the facilities
We are talking about RBL Bank, this bank has recently started a digital savings account by the name of Go Account. This is a zero balance account, on which you are getting interest at the rate of 7.5 percent. According to the website of RBL Bank, on this account you get the facility of free premium go debit card, free credit report, easy cash withdrawal. Apart from this, comprehensive cyber insurance cover and accident and travel insurance cover up to Rs 1 crore is also available.
Fees will have to be paid
This zero balance account of RBL Bank is a subscription bank account. To avail this benefit you have to pay an annual charge. The subscription fee in the first year is Rs 1999, whereas later you have to pay Rs 500 annually. Besides, you also have to pay GST. However, if you spend more than Rs 1 lakh in a year through the debit card that comes with this account, then this annual fee will be waived.
How to open an account
To open this account of RBL Bank, you must have PAN card and Aadhar card. If you have these documents, you can open this account with the help of the app or online. Being a digital account, it can be accessed from mobile while sitting at home.
