Interest Rates for Savings Bank (SB) Accounts

Interest Rates for Savings Bank (SB) Accounts


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.