Interest Rates and Slabs for all Savings Bank Accounts
[Pages:1]Interest Rates and Slabs for all Savings Bank Accounts
Effective from 15th February, 2023
Sr. No 1 2
3 4 5
Savings Account Balance
Upto Rs. 1 lakh
More than Rs. 1 lakh and Upto Rs. 10 Lakhs
More than Rs. 10 Lakhs and Upto Rs. 10 Crores
More than Rs. 10 Crores and Upto Rs. 50 Crores
More than Rs. 50 Crores
Interest Rate Per Annum
3.50% 7.00%
7.25%
7.50%
6.50%
Illustration
3.50% will be paid on balances up to Rs. 1 Lakh 7.00% will be paid on incremental balances above Rs. 1 Lac & up to Rs. 10 Lacs
7.25% will be paid on incremental balances above Rs. 10 Lacs & up to Rs. 10 Crores 7.50% will be paid on incremental balances above Rs. 10 Crores & up to Rs. 50 Crores
6.50 % will be paid on incremental balances above Rs. 50 Crores
Note:
1. Interest is calculated on day-end balances maintained in the savings account 2. The interest is paid / credited to savings account on quarterly basis 3. Rates are subject to change from time to time
e.g. : If a customer maintains Rs.150,000/- in the savings account, 3.50% interest will be earned for Rs.100,000/- and 7.00% interest will be earned for the remaining Rs.50,000/-
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