New Delhi: After the Reserve Bank of India cut the repo rate, private sector bank RBL Bank has changed the interest rates on its savings accounts. This decision of the bank benefited some high net worth individuals, while some people will not get this benefit. Along with this, the bank has also cut the interest rate on small balance by 25 basis points. Let us tell you that the new interest rates will be effective from February 15, 2025.
Revision in interest rates on savings accounts
The private sector bank said that account holders whose daily balance in the account is between Rs 10 lakh to Rs 25 lakh will be given 6.5 percent interest, which is an increase of 0.5% from the previous interest rate. At the same time, account holders whose daily balance in the account is between Rs 50 crore to Rs 75 crore will be given 6 percent interest, which is 0.75% more than the previous interest rate.
The highest increase in this slab
Apart from this, savings account holders whose daily balance is between Rs 200 crore and Rs 400 crore will get 6 percent interest, which is 2 percent more than the previous interest rate. The bank has made the highest increase in this slab.There was no change in these amounts
At the same time, RBL Bank has not made any change in the interest rates on accounts with daily balance of Rs 25 lakh to Rs 3 crore. It will get 7.5% interest as before. After this, the interest rates on accounts with daily balance of Rs 3 crore to Rs 7.5 crore remain unchanged at 6.5%. Apart from this, the private bank has also not made any change in the interest rates on savings accounts with daily balance of Rs 7.5 crore to Rs 50 crore. It will get 6.25 percent annual interest as before.
How are interest rates calculated in savings accounts?
According to RBL Bank, interest rates on savings account are calculated on daily basis on the balance in the account, while it is paid on quarterly basis on 30 June, 30 September, 31 December and 31 March.
Related Articles:-
- School Closed: Big relief! Schools will remain closed again for so many days, holidays declared
- PM Modi will flag off Vande Bharat train from Katra to Kashmir
- Post Office FD: if you deposit ₹ 10,00,000 then you will get more than ₹ 20,00,000 interest
- Big update on 8th Pay Commission, know when will the employees get the increased salary?
- TDS limit For FD: Government has increased the TDS limit for bank FDs. Key Details Inside
