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.