Relationship banking is a method used by financial institutions to build relationships with customers. Banks will offer a series of compatible bank accounts, loan products, or bank services so you will primarily bank with them. To encourage banking relationships, banks will often reward customers who apply for multiple bank products. For instance, you might be offered higher interest rates on savings accounts, money, market accounts, or CDs — often referred to as relationship rates. Some banks will also waive monthly service fees on some bank accounts, so you won't need to meet any minimum balance requirements.