Interest Rates for Savings Bank (SB) Accounts

Present RBI Repo Rate 4.90%


Interest rate for Savings Bank Deposits effective from 09th June 2022


End of the Day Balance

Rates of Interest (p.a)


Less than ₹5 Crores

2.15% below RBI’s Repo Rate 


₹5 Crores and above

2.15% below RBI’s Repo Rate for amount up to and including ₹1Lakh

0.90% below RBI’s Repo Rate for the remaining balance above ₹1Lakh

As the interest rates are linked to Repo rates, the interest rates will change as and when the Repo Rate gets revised by RBI on a T+1 basis. 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.