Saving Bank Account Interest Rate

Interest rate for Savings Bank Deposits effective from 24th September 2024

Slab

End of the Day Balance

Rates of interest (p.a)

1

Upto and including ₹1L

3.00% - uniform rate

2

Above ₹1L to less than ₹50Cr

3.00% for balance 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

3

 ₹50Cr to less than ₹150Cr

3.00% for balance upto ₹1L

7.10% for balance above ₹1L to less than ₹150Cr

4

 ₹150Cr to less than ₹500Cr

3.00% for balance upto ₹1L

5.75% for balance above ₹1L to less than ₹500Cr

5

 ₹500Cr and above

3.00% for balance upto ₹1L

7.30% for 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.