Bank Interest Rates: Many banks had updated their rate of interest in the past. But in order to attract more customers, several banks have increased their interest rate on the saving account, including NRE/NRO saving by up to 50 basis points (bps) on given amounts and reduced on select amounts, the bank’s official website says. It is noted that the new rates are effective from August 21, 2023.
With a daily balance of up to Rs 1 lakh in a saving account, the bank will pay an interest rate of 4.25%, while the bank will pay an interest rate of 5.50% on savings accounts with a daily balance above Rs 1 lakh and up to Rs 10 lakh. On a daily balance of above Rs 10 lakh and up to Rs 25 lakh in a saving account, RBL Bank will provide an interest rate of 6.00%. The bank raised the rate by 50 basis points from 7% to 7.50% on saving accounts with the balance above Rs 25 lakh and up to Rs 3 crore.
RBL Bank Interest Rate
The bank decreased the interest rate on savings accounts with daily balances between Rs 3 crore and Rs 25 crore by 50 basis points to 6.5% from 7%. RBL Bank provides a 6.25% rate of interest on savings accounts with a daily balance of Rs 25 crore to Rs 50 crore.
RBL Bank account holders will get a 6.00% interest rate per day on savings account balances above Rs.100 crore and up to Rs.200 crore and a 4% rate of interest on accounts with daily balances above Rs.200 crore and up to Rs.400 crore Will get At the same time, above Rs 400 crore, the bank will provide an interest rate of 6.75 per cent.
Interest will be calculated daily based on the balance in the account at the end of the day. Interest will be credited to the customer’s account on a quarterly basis on 30th June, 30th September, 31st December and 31st March every year.
