RBL Bank hikes rates of interest by as much as 25 bps on financial savings accounts
The personal sector lender RBL Bank has hiked rates of interest on financial savings accounts. According to the financial institution’s official web site, the brand new charges take impact on October 21, 2022. Following the adjustment, the financial institution elevated the rates of interest on quite a lot of deposit slabs by as much as 25 foundation factors. As a consequence, RBL Bank’s financial savings account holders can now earn as much as 6.50% on their financial savings account deposits. The curiosity is paid / credited to the client’s account on a quarterly foundation and the rates of interest might be calculated and accrued day by day, relying on the end-of-day steadiness within the account.
RBL Bank Savings Account Rates
The financial institution will proceed to present an rate of interest of 4.25% on financial savings accounts with a day by day finish steadiness of as much as Rs. 1 lakh, and an rate of interest of 5.50% on accounts with a day by day finish steadiness of over Rs. 1 lakh and as much as Rs. 10 lakh from RBL Bank. On financial savings accounts with a day by day finish steadiness of greater than Rs. 10 lakh and as much as Rs. 25 lakh, RBL Bank will supply an rate of interest of 6.00%, however on accounts with a day by day finish steadiness of greater than Rs. 25 lakh and as much as Rs. 1 crore, the financial institution has elevated the rate of interest by 25 foundation factors, from 6.25% to six.50%. The financial institution has elevated rates of interest on financial savings accounts with day by day balances of over Rs. 1 crore and as much as Rs. 3 crore by 25 foundation factors (bps), from 6.25% to six.50%, and RBL Bank has elevated rates of interest on financial savings accounts with day by day balances of over Rs. 3 crore and as much as Rs. 5 crore by 25 bps, from 6.25% to six.50%.
The financial institution has elevated the rate of interest on financial savings accounts having a day by day finish steadiness of greater than Rs. 5 crore and as much as Rs. 7.5 crore by 25 foundation factors, from 6.25% to six.50%. The financial institution elevated the rate of interest on financial savings accounts with day by day finish balances of greater than Rs. 7.5 crore and as much as Rs. 50 crore by 15 foundation factors, or from 6.10% to six.25%. On financial savings accounts with a day by day finish of the steadiness of above Rs. 50 Crore upto Rs. 100 Crore the financial institution will proceed to supply an rate of interest of 5.25% and on financial savings accounts with day by day finish of the steadiness of above Rs. 100 Crore upto Rs. 200 Crore RBL Bank will proceed to supply an rate of interest of 6.00%.
RBL Bank will proceed to supply an rate of interest of 4.00% on financial savings accounts with a day by day finish of the steadiness of above Rs. 200 Crore upto Rs. 500 Crore and 4.50% on financial savings accounts with a day by day finish of the steadiness of above Rs. 500 Crore. “Attention of shoppers/public is invited on the adjustments in rates of interest Saving Deposits w.e.f. October 21, 2022,” said RBL Bank on its website.
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RBL Bank Savings Account Rates (rblbank.com) Example of RBL Bank Savings Account Rates
RBL Bank has mentioned on its website that “Interest in the Savings Account up to Rs. 1 Lakh is calculated at 4.25% p.a. Balance greater than 1 lakh will earn interest basis the above mentioned value grid under which over daily balance falls on that day.”
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RBL Bank Savings Account (rblbank.com)
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