Interest Rates for Savings Bank (SB) Accounts

Interest rate for Savings Bank Deposits effective from 25th March 2024

Slab

End of the Day Balance

Rates of Interest % (p.a)

1

Upto and including ₹1L

3.05%

2

Less than ₹5Crores

3.05% 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 and above

3

₹5 Crores to less than ₹50 Crores

3.05% for balance upto and including ₹1L

5.50% for the remaining balance above ₹1L

4

₹50 Crores to less than ₹200 Crores

3.05% for balance upto and including ₹1L

6.00% for the remaining balance above ₹1L

5

₹200 Crores to less than ₹500 Crores

3.05% for balance up to and including ₹1L

7.15% for the remaining balance above ₹1L

6

₹500 Crores and above

3.05% for balance upto and including ₹1L

7.81% 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.