RBL Bank has announced the debut of the GO Savings Account, a zero-balance account with an uncomplicated account opening process and basic features. Customers of all ages will be able to open this account.

The RBL Bank stated in a statement that the GO Savings Account represents a revolutionary movement in the world of banking, introducing a novel subscription-based approach.

RBL Bank's Go Savings Account offers a variety of customer-friendly benefits, including high-interest rates of up to 7.5% per year, a premium debit card, Rs. 1,500 in vouchers for premier brands, comprehensive cyber insurance coverage, accident and travel insurance up to Rs 1 crore, a free CIBIL report, and a variety of premium banking services.

Subscription Fee

All of the benefits of RBL Bank's Go Savings Account are combined into a single package for a one-time membership charge of Rs. 1999 + taxes and an annual renewal price of Rs. 599 + taxes thereafter.

The expedited account opening process, according to the bank, will allow consumers to open an account in minutes by submitting their PAN and Aadhaar details. GO Account holders will also benefit from fee-free transactions.

"The introduction of the 'GO Savings Account' bridges the gap between traditional and digital banking by providing customers with a compelling value proposition." "We aim to bring digital convenience to a larger customer segment with our user-friendly account opening experience bundled with the new-age subscription-based model and services thereon," said Deepak Gaddhyan, RBL's Head of Branch and Business Banking.