The non-public sector lender RBL Bank has hiked its financial savings account rates of interest. According to the financial institution’s official web site, the brand new charges will take impact tomorrow, September 5, 2022. Following the modification, the RBL Bank has pledged to pay financial savings financial institution deposits at a most rate of interest of 6.25%. “Attention of shoppers/public is invited on the adjustments in rates of interest Saving Deposits w.e.f. September 05, 2022 Interest charges on Savings Deposit (together with NRE/NRO Savings),” mentioned RBL Bank on its web site.
RBL Bank Savings Account Interest Rates
The financial institution will proceed to provide an rate of interest of 4.25% on financial savings account balances as much as Rs. 1 lakh and an rate of interest of 5.50% on financial savings account balances over Rs. 1 lakh and as much as Rs. 10 lakh. Savings account deposits above Rs. 10 lakh and as much as Rs. 25 lakh will proceed to pay an rate of interest of 6.00%, nevertheless, deposits over Rs. 25 lakh and as much as Rs. 1 crore at financial savings accounts will now present an rate of interest of 6.25%, up from 6% beforehand—a 25 foundation level improve.
On financial savings financial institution deposits of Above Rs. 1 Crore and as much as Rs. 3 Crore RBL Bank will now supply an rate of interest of 6.25% which was earlier 6% and on financial savings account stability of above Rs. 3 Crore as much as Rs. 5 Crore the financial institution has hiked rate of interest by 25 bps from 6% to six.25%. RBL Bank has hiked rate of interest by 50 bps from 5.75% to six.25% on financial savings account balances of above Rs. 5 Crore as much as Rs. 7.5 Crore and the financial institution has hiked rate of interest by 35 bps on financial savings financial institution deposits of above Rs. 7.5 Crore as much as Rs. 10 Crore.
On financial savings financial institution deposits of above Rs. 10 Crore as much as Rs. 50 Crore the financial institution has hiked rate of interest by 35 bps from 5.75% to six.10% and on financial savings account stability of above Rs. 50 Crore as much as Rs. 100 Crore the financial institution will proceed to pay an rate of interest of 5.25%. Savings financial institution deposits of Above Rs. 100 Crore as much as Rs. 200 Crore will now pay an rate of interest of 6.00% which was earlier 5% a hike of 100 bps. On a financial savings account stability of above Rs. 200 Crore as much as Rs. 500 Crore the financial institution will now pay an rate of interest of 4% and on a financial savings account stability of above Rs. 500 Crore the financial institution will now pay an rate of interest of 4.50%.
View Full Image
RBL Bank Savings Account Interest Rates (rblbank.com)
“Interest will probably be calculated and accrued every day primarily based on the tip of day stability within the account. The curiosity is paid / credited to buyer’s account on quarterly foundation on thirtieth June, thirtieth September, thirty first December and thirty first March annually,” mentioned RBL Bank on its web site.
Catch all of the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.
More
Less
Subscribe to Mint Newsletters
* Enter a sound electronic mail
* Thank you for subscribing to our e-newsletter.
Post your remark
First article
