RBL Bank is reportedly in advanced talks with Zerodha to open bank accounts for its 160 million broking clients. If successful, this could unlock deposits worth nearly ₹40,000 crore, boosting the bank’s deposit base by over 30% and strengthening its retail franchise.
Strengthening RBL Bank’s Deposit Base
The potential ₹40,000 crore inflow from Zerodha’s client accounts would significantly improve RBL’s CASA (Current Account Savings Account) ratio. Since Zerodha’s clientele largely consists of active traders, the funds are expected to be stable and low-churn, helping the bank reduce its cost of funds while improving liquidity. The move could position RBL as a major player in retail banking with stronger funding sources.
Integration Through 3-in-1 Accounts
Currently, Zerodha’s clients use multiple banks to hold trading balances. RBL aims to consolidate these funds by offering an integrated 3-in-1 account — combining broking, demat, and banking services. This structure would give clients seamless access to trading funds while keeping their deposits within RBL’s ecosystem, similar to arrangements once offered through Zerodha’s partnership with IDFC First Bank.
If finalized, RBL could attract a vast portion of Zerodha’s user base, translating into long-term, high-retention deposits.
Strategic Timing and Capital Boost
The talks coincide with UAE-based Emirates NBD’s plan to acquire a majority stake in RBL Bank by infusing ₹26,850 crore through preferential shares. This infusion will expand RBL’s capital base to around ₹45,000 crore and support expansion across retail, corporate, and digital banking. As of September 2025, RBL’s total deposits stood at ₹1.17 lakh crore — meaning the Zerodha alliance could add substantial value overnight.
Additionally, RBI’s recent move to raise the loan-against-shares limit from ₹20 lakh to ₹1 crore could further benefit RBL by enabling higher-income avenues from broker-linked clients.
Impact on India’s Financial Ecosystem
This partnership represents a milestone in integrating stockbroking with mainstream banking, creating mutually beneficial synergies. While RBL gains stable deposits and new customers, Zerodha users get a unified experience with faster fund transfers and improved capital efficiency.
Industry experts note that integrated 3-in-1 banking relationships attract 2.5 times more “sticky money” than conventional accounts — underscoring the transformation this alliance could bring to retail banking in India.
Summary
RBL Bank is in advanced talks with Zerodha to onboard its 160 million clients into a unified 3-in-1 banking structure. The deal could add up to ₹40,000 crore in low-cost deposits, boosting RBL’s base by over 30%. Backed by Emirates NBD’s ₹26,850 crore capital infusion, this partnership marks a major leap for both retail banking and broker integration.
