The RBL Bank has introduced the GO Savings account, a zero-balance account with simple features and an easy opening procedure. The Mumbai-based bank said that the GO Savings account offers a “novel-subscription-based model” and represents a “modern shift in the world banking.”
“The GO Savings Account offers clients a compelling value proposition that helps to bridge the gap between traditional and digital banking. Deepak Gaddhyan, Head of Branch and Business Banking, at RBL Bank, was quoted in the announcement as saying, “With it, we aim to bring digital convenience to a larger customer segment.”
Subscription Model
Customers just need to pay a one-time charge to get all of the services; subsequent payments are waived. These are combined into a single package with an annual renewal charge of ₹599 (+ taxes) after the first year of membership at ₹1999 (plus taxes).
Account Opening Process
People can open their GO Savings Accounts in minutes by doing this online. They need to provide their PAN and Aadhaar data for this.
Benefits
The following benefits are yours to have without spending a dime: virtual debit card, higher interest rates (up to 7.5% annually), CIBIL report, cyber insurance, accident and travel insurance, joining vouchers, international cash withdrawals, banking features, premium debit card, and vouchers worth ₹1500 for premier brands.
Features Of Zero-Balance Go Savings Account
- It provides several benefits that are advantageous to the consumer, such as high interest rates of up to 7.5 percent annually, a high-end debit card, and coupons worth Rs. 1,500 for luxury companies.
- In addition, the account provides a free CIBIL report, accident and travel insurance up to ₹1 lakh and complete cyber insurance coverage.
- A number of high-end banking services are also available with the account. These are available as a single bundle for ₹1999 (plus taxes) for the first year of subscription, and then ₹599 (plus taxes) for each additional year of service.
