Savings Account Interest Rates
 

Nature Rate of Interest
Normal Senior Citizen
A. Domestic (W.e.f. Oct 18, 2019) 6%* p.a. on balance above Rs. 1 lakh and up to 10 lakhs.
5.5% p.a. on balance above Rs. 10 lakhs.
4.0% p.a. on balance up to Rs. 1 lakh
6%* p.a. on balance above Rs. 1 lakh and up to 10 lakhs.
5.5% p.a. on balance above Rs. 10 lakhs.
4.0% p.a. on balance up to Rs. 1 lakh
B. Basic Savings Bank Deposit Account/Small Account (W.e.f. Oct 18, 2019) 6%* p.a. on balance above Rs. 1 lakh and up to 10 lakhs.
5.5% p.a. on balance above Rs. 10 lakhs.
4.0% p.a. on balance up to Rs. 1 lakh
6%* p.a. on balance above Rs. 1 lakh and up to 10 lakhs.
5.5% p.a. on balance above Rs. 10 lakhs.
4.0% p.a. on balance up to Rs. 1 lakh
C. Non Resident (NRE/NRO) 4% p.a. 4% p.a.
With effect from 1 April 2016, the periodicity of payment of interest on Savings Bank Account will be quarterly. Thus, the 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.
Note : p.a. is "per annum"

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Disclaimer - W.e.f. October 18, 2019,earn 6% p.a. interest on Savings Account balance over Rs. 1 lakh and up to Rs 10 lakhs. Earn 4% p.a. interest on Savings Account balance up to Rs. 1 lakh and 5.5% p.a. interest on Savings Account balance above Rs. 10 lakhs. Applicable for Resident Accounts only.