NSE: 

Interest Rates for Savings Bank (SB) Accounts

Interest rate for Savings Bank Deposits effective from 01st November 2019

Slab

End of the Day Balance

Rates of Interest (p.a)

1

Upto and including ₹1Lakh

1.90% below RBI's Repo Rate

2

₹1Lakh to less than ₹10 Crores

1.90% below RBI's Repo Rate for amount up to and including ₹1Lakh

2.15% below RBI's Repo Rate for remaining balance above ₹1Lakh to less than ₹50L

1.65% below RBI's Repo Rate for remaining balance above ₹50L to less than ₹10Cr

3

₹10 Crores to less than ₹150 Crores

1.90% below RBI's Repo Rate for amount up to and including ₹1Lakh

0.75% above RBI's Repo Rate for the remaining balance above ₹1Lakh

4

₹150 Crores and above

1.90% below RBI's Repo Rate for amount up to and including ₹1Lakh

1.85% above 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

.