Savings accounts provide security for your money in addition to earning interest. The interest rates on savings accounts differ with banks and many banks have revised their savings account interest rates recently. Here is a look at a few such banks.
Bandhan Bank savings account interest rates
has raised its savings account interest rates. The new interest rates will take effect on August 22, 2022, according to the Bandhan Bank website.
The interest rate for balances over Rs 1 lakh and up to Rs 10 lakh has increased by 100 basis points, or 1 percent, to 6 percent from the previous rate of 5 percent at Bandhan Bank. Other balances’ interest rate is still the same.
According to the Bandhan Bank website, “Interest of 3.00% p.a will be applied to amounts up to Rs 1 lakh, 6% p.a will be applied on the incremental balance over and above Rs 1 lakh up to Rs10 lakh, 6.25% p.a will be applied on the incremental balance over and above Rs 10 lakh up to Rs 2 crore and 6% p.a will be applied on the incremental balance over and above Rs 2 crore up to Rs 100 crore.”
Federal Bank savings account interest rates
has announced an increase in savings account interest rates that will take effect on August 17, 2022.
According to the website, customers with savings account balances less than Rs 5 crore will now earn 2.40% interest.
Ujjivan savings account interest rate
has raised its savings account interest rates. The revised rates go into effect on August 9th, according to the bank’s official website.
The bank is currently offering an interest rate of 3.50% on savings account balances of up to 1 lakh, and an interest rate of 6.00% on savings account balances of more than 1 lakh up to 5 lakh. Ujjivan Small Finance Bank will now give a maximum interest rate of 7% on savings account balances of more than 5 lakh to 5 crore, and 6.75% on savings bank deposits of more than 5 crore.
IndusInd Bank savings account interest rate
IndusInd Bank, a private sector lender, has revised the interest rates on its savings accounts. According to the bank’s official website, the new rates will go into effect on August 10th, 2022.
Indian Overseas bank savings account interest rates
has revised the interest rates on its savings accounts. According to the bank’s official website, the new rates will go into effect on August 10th, 2022.
The bank is now paying 2.75% interest on savings account balances up to Rs. 25 lakh, and is now paying 2.75% interest on savings account balances above Rs. 25 lakh and up to Rs. 1 crore. Indian Overseas Bank will now pay 2.90% interest on savings bank deposits of more than Rs. 1 crore.
DCB Savings account interest rate
DCB has revised interest rates on savings accounts. The bank’s official website states that the revised interest rates are effective from August 22, 2022. Following the revision, the savings bank account holders can earn up to 7% interest rate on savings account deposits.
