Saving Bank Interest Rate: This bank is giving up to 7.75% interest on savings account, check the complete list

Nowadays, bank accounts are used for various purposes like salary, digital payments, etc. Especially savings accounts, which most people have opened. In comparison to bank accounts like fixed deposit, recurring deposit, interest is not given on the amount deposited in savings account, but at present, customers are getting up to 7.50 percent interest on savings account in some banks. Interest received on daily closing balance is deposited in the customer’s account monthly or quarterly depending on the specific bank. Interest rates on savings accounts vary in different banks. Here interest rates on savings accounts have been compared in SBI, ICICI Bank, RBL Bank, HDFC Bank, PNB, Union Bank of India (UBI) and Indian Bank.

SBI

The country’s largest government bank, State Bank of India (SBI), is giving 2.70 to 3 percent interest on savings accounts. If the amount deposited in the bank account is less than Rs 10 crore, interest is being given at the rate of 2.70 percent. And on the amount more than this, 3 percent interest is being given. This interest rate is applicable from October 2022.

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Punjab National Bank

Similarly, Punjab National Bank is also giving up to 3% interest on savings accounts. However, here the interest rate is 2.70% for less than Rs 10 crore in the account and 2.75% for the amount between Rs 10 crore and Rs 100 crore. If a customer keeps more than Rs 100 crore in a savings account of PNB, then he gets the benefit of interest at the rate of 3% on the deposited amount from the bank.

UBI Bank

Union Bank of India (UBI) included in this list gives 2.75% interest on savings account deposits up to Rs 50 lakh. 2.90% interest is being given on deposits more than this and less than Rs 100 crore. 3.10% interest is being given on deposits between Rs 100 crore and Rs 500 crore and 3.40% interest is being given on deposits between Rs 500-1000 crore. If a customer deposits more than Rs 1000 crore in his savings account, then the bank gives the benefit of 4% interest.

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HDFC Bank

HDFC Bank, the largest private sector bank, is offering interest at the rate of 3 to 3.50 percent on savings accounts. If a customer deposits Rs 50 lakh in this bank account, he gets 3% interest and if he deposits more than that, he gets 3.50% interest.

ICICI Bank

Like HDFC Bank, ICICI Bank is also giving interest up to 3.50 percent to its customers on savings accounts. If a customer deposits Rs 50 lakh in this bank account, he gets 3% interest and if he deposits more than that, he gets 3.50% interest.

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RBL Bank

The last bank in the list is RBL Bank. In this bank, customers are getting better interest on savings account than the rest of the banks in the list. In this, the bank is giving interest at the rate of 3.75% on deposits up to Rs 1 lakh. On deposits between Rs 1 lakh and 10 lakh, interest is given at the rate of 5.50%. On deposits between Rs 10 lakh and 25 lakh, the benefit of 6.00% interest is being given. On deposits above this amount, the bank is giving even better returns. If an account holder keeps more than Rs 25 lakh and less than Rs 2 crore in his savings account, then he can get 7.50% interest from RBL Bank. On the other hand, on keeping between Rs 75 crore and Rs 125 crore, the benefit of 7.75% interest can be availed. According to the official website of the bank, these rates are applicable till June 30. From the first of July, changes will be seen in the rates on some balance limits.