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.