Interest Rates for Savings Bank (SB) Accounts
Interest Rates for Savings Bank (SB) Accounts
Interest rate for Savings Bank Deposits effective from 17th April 2024
|
Slab |
End of the Day Balance |
Rates of interest (p.a) |
|
1 |
Upto ₹1L |
3.00% |
|
2 |
Less than ₹200Cr |
3.00% for balance less than ₹5L |
|
3.10% for balance of ₹5L to less than ₹50L |
||
|
3.75% for balance of ₹50L to less than ₹2Cr |
||
|
4.00% for balance of ₹2Cr to less than ₹5Cr |
||
|
5.50% for balance of ₹5Cr to less than ₹50Cr |
||
|
6.00% for balance of ₹50 Cr and above |
||
|
3 |
₹200 Crores and above |
3.00% for balance up to and including ₹1L |
|
7.15% for the remaining balance above ₹1L |
The rates as mentioned above will be calculated on the daily End of the Day balances maintained in Savings Bank accounts (Resident/NRE/ONR) and the same will be credited to respective accounts on a quarterly basis.