Basic Savings Account
Basic Savings Account
Earn up to
Key Benefits
No hassle or stress of minimum balance limitation. Open your Basic Savings Account fuss-free.
Get a free Rupay Card with INR 50,000 ATM withdrawal limit and INR 30,000 POS withdrawal limit.
Avail two cheque books per year (40 Leaves).
Online bill payment services, phone banking, mobile banking, SMS banking and alerts, e-statements, and internet banking services are all available.
Access from anywhere at any time to receive all the benefits under one roof
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Daily ATM maximum withdrawal of INR 50,000
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POS daily spending cap of INR 30,000
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Use SMS to generate your Debit Card PIN
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Accidental and Disability Insurance Cover of INR 1 lakh
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5 free cash withdrawals in a month at any domestic bank ATM
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24x7 access to funds
(Note: The insurance offering is structured around the usage of the card on at least one of the channels including ATM, POS, MicroATM, or e-com, in 45 or 90 days prior to the accident (Death) and permanent total disability)
***Savings Account Interest Rates
| Daily balance | Rate of Interest (p.a.) w.e.f. August 21, 2023 |
|---|---|
| Upto INR 1 lakh | 4.25% |
| Above INR 1 lakh upto INR 10 lakh* | 5.50% |
| Above INR 10 lakh upto INR 25 lakh* | 6.00% |
| Above INR 25 lakh and upto INR 2 Crore* | 7.50% |
| Above INR 2 Crore and upto INR 3 Crore* | 7.00% |
| Above INR 3 Crore upto INR 7.5 Crore* | 6.50% |
| Above INR 7.5 Crore upto INR 25 Crore* | 6.25% |
| Above INR 25 Crore upto INR 50 Crore* | 6.25% |
| Above INR 50 Crore upto INR 100 Crore* | 5.25% |
| Above INR 100 Crore upto INR 200 Crore* | 6.00% |
| Above INR 200 Crore upto INR 400 Crore* | 4.00% |
| Above INR 400* | 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.
