Scribd Logo
Upload

Welcome to Scribd!

  • 12 views

    Interest Rates Savings

    Uploaded by

    vishal3152
    The document announces changes to interest rates on savings deposits effective October 1, 2019. Interest rates on savings deposits including NRE/NRO accounts will be 5% for daily balances up to Rs. 1 lakh, 6% for balances above Rs. 1 lakh up to Rs. 10 lakh, 6.75% for balances above Rs. 10 lakh up to Rs. 3 crore, and 6.75% for balances above Rs. 3 crore up to Rs. 5 crore. Interest will be paid quarterly.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Interest Rates Savings

    Uploaded by

    vishal3152
    12 views1 page
    The document announces changes to interest rates on savings deposits effective October 1, 2019. Interest rates on savings deposits including NRE/NRO accounts will be 5% for daily balances up to Rs. 1 lakh, 6% for balances above Rs. 1 lakh up to Rs. 10 lakh, 6.75% for balances above Rs. 10 lakh up to Rs. 3 crore, and 6.75% for balances above Rs. 3 crore up to Rs. 5 crore. Interest will be paid quarterly.

    Original Description:

    interested

    Original Title

    interest-rates-savings

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document announces changes to interest rates on savings deposits effective October 1, 2019. Interest rates on savings deposits including NRE/NRO accounts will be 5% for daily balances up to Rs. 1 lakh, 6% for balances above Rs. 1 lakh up to Rs. 10 lakh, 6.75% for balances above Rs. 10 lakh up to Rs. 3 crore, and 6.75% for balances above Rs. 3 crore up to Rs. 5 crore. Interest will be paid quarterly.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    12 views1 page

    Interest Rates Savings

    Uploaded by

    vishal3152
    The document announces changes to interest rates on savings deposits effective October 1, 2019. Interest rates on savings deposits including NRE/NRO accounts will be 5% for daily balances up to Rs. 1 lakh, 6% for balances above Rs. 1 lakh up to Rs. 10 lakh, 6.75% for balances above Rs. 10 lakh up to Rs. 3 crore, and 6.75% for balances above Rs. 3 crore up to Rs. 5 crore. Interest will be paid quarterly.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Interest Rate on Saving deposits

    Attention of customers/public is invited on the changes in interest rates Saving Deposits with effect from
    October 01, 2019

    Interest rates on Savings Deposit (including NRE/NRO Savings)

    Rate of interest % per


    annum
    Rate of Interest
    Daily balance w.e.f 1st October 2019
    Up to Rs 1 lakh 5.00
    Above Rs 1 lakh upto Rs. 10 lakh * 6.00
    Above Rs. 10 lakh and upto Rs. 3 Crore* 6.75
    Above Rs. 3 Crore upto Rs. 5 Crore*# 6.75

    * On daily balances in excess of Rs. 1 Lac


    # For amounts greater than Rs 5 Crore, please contact the branch or your designated Relationship Manager. 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.

    You might also like