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***Savings Account Interest Rates

Daily balance Rate of Interest(p.a.) Effective till June 30, 2024 Rate of Interest(p.a.) Effective from July 01, 2024
Upto INR 1 lakh 4.25% 3.75%
Above INR 1 lakh upto INR 10 lakh* 5.50% 5.50%
Above INR 10 lakh upto INR  25 lakh* 6.00% 6.00%
Above INR 25 lakh and upto INR  2 Crore* 7.50% 7.50%
Above INR 2 Crore and upto INR 3 Crore* 7.00% 7.00%
Above INR 3 Crore upto INR 7.5 Crore* 6.50% 6.50%
Above INR 7.5 Crore upto INR 25 Crore* 6.25% 6.25%
Above INR 25 Crore upto INR 50 Crore* 6.25% 6.25%
Above INR 50 Crore upto INR 75 Crore* 5.25% 5.25%
Above INR 75 Crore upto INR 100 Crore* 7.75% 7.75%
Above INR 100 Crore upto INR 125 Crore* 7.75% 7.75%
Above INR 125 Crore upto INR 200 Crore* 6.00% 6.00%
Above INR 200 Crore upto INR 400 Crore* 4.00% 4.00%
Above INR 400 Crore* 6.75% 6.75%

* On daily balances in excess of INR 1 Lakh

With effect from April 1, 2016, the periodicity of payment of interest on Savings Bank Account has been changed to quarterly. Accordingly savings Bank interest calculated on daily product basis will be paid at quarterly intervals on 30th June, 30th September, 31st December & 31st March each year.

To understand the interest calculation with an example click here.