Bank Of India Saving Account Interest Rate
| Maturity Period | Interest rates (per cent per annum) w.e.f. October 21, 2020 | Interest rates (per cent per annum) w.e.f. December 04, 2020 | ||
|---|---|---|---|---|
| Single deposit of less than ₹ 20.0 million | Single deposit of ₹ 20.0 mn & above but less than 50.0 mn | |||
| General | **Senior Citizen | General | **Senior Citizen | |
| 7 days to 14 days | 2.50% | 3.00% | 2.50% | 2.50% |
| 15 days to 29 days | 2.50% | 3.00% | 2.50% | 2.50% |
| 30 days to 45 days | 3.00% | 3.50% | 2.75% | 2.75% |
| 46 days to 60 days | 3.00% | 3.50% | 2.75% | 2.75% |
| 61 days to 90 days | 3.00% | 3.50% | 3.00% | 3.00% |
| 91 days to 120 days | 3.50% | 4.00% | 3.00% | 3.00% |
| 121 days to 184 days | 3.50% | 4.00% | 3.00% | 3.00% |
| 185 days to 210 days | 4.40% | 4.90% | 3.50% | 3.50% |
| 211 days to 270 days | 4.40% | 4.90% | 3.50% | 3.50% |
| 271 days to 289 days | 4.40% | 4.90% | 3.65% | 3.65% |
| 290 days to less than 1 year | 4.40% | 4.90% | 3.65% | 3.65% |
| 1 year to 389 days | 4.90% | 5.40% | 3.75% | 3.75% |
| 390 days to < 18 months | 4.90% | 5.40% | 3.75% | 3.75% |
| 18 months to 2 years | 5.00% | 5.50% | 3.75% | 3.75% |
| 2 years 1 day to 3 years | 5.15% | 5.65% | 4.25% | 4.25% |
| 3 years 1 day to 5 years | 5.35% | 5.85% | 4.25% | 4.25% |
| 5 years 1 day to 10 years | 5.50% | #6.30% | 4.25% | 4.25% |
| 5 Years (80C FD) – Max to ₹ 1.50 lac | 5.35% | 5.85% | NA | NA |
- Saving Bank Rate Of Interest
- Banks Savings Accounts Interest Rates
- Bank Of India Interest Rate On Saving Account
- Bank Rates On Savings Accounts
IDFC FIRST Bank's Savings Account is our testament to putting our customers first. We offer one of the industry’s best savings account interest rates at 6% p.a., for balances up to Rs 1 Cr. What's more, you earn this interest on progressive balances in each interest rate slab, as applicable. That means you earn every single day. Citizens Charter of Union bank of India Right to. Salary Account Demat Account Saving Account. General General Interest Rate Interest Rates. SBI (State Bank of India) offers an interest rate at the rate of 3.5 percent on its savings account that have the balance upto Rs one crore, and 4 per cent on the balance above Rs 1 crore. Quarterly interest payment is effective from May 2016 and is invariably credited on regular basis in SB account irrespective of the operational status of the account. Any change/ revision in interest rate on Savings Bank Deposits shall be notified to the customers through Bank's website i.e. Saving Bank Deposit Rate of.
A Savings Account is very beneficial with multiple advantages as detailed below:
(1) Earns Interest on your Savings
This is the first and foremost benefit of opening a savings account. It starts earning interest on your money as soon as it is deposited. The interest rate is decided solely by the bank and changes from time to time. Regular interest depends upon the balance of the savings account.
Interest rate in savings account ranges from 3.5% to 7%.
(2) Provides Security of Funds
There is no risk involved in your savings account. It is considered as one of the safest investment alternatives. It even offers you the opportunity to put your money into another investment whenever the time comes.
(3) No Lock-in Period
There is no lock-in period under savings account which means that you can withdraw your deposits anytime you need. There is no need to keep your money in this account for any specific period. You have full flexibility in withdrawal of amount from it.
(4) Offers Liquidity
You can withdraw the amount anytime 24X7 with the use of ATM card or debit card from your account during any emergency even when the bank is closed. In fact, being able to access your money when you need it, is one of the biggest benefit of having a savings account.
(5) Availability of Variety of Savings Account
Many banks offer comprehensive range of savings accounts from regular to premium suiting to your personal banking needs. There are different types of savings accounts offered by various banks that differ based on the interest rates and duration of time commitments. You can choose any of them which suits your financial objectives and requirements.
(6) Services of Customer Relation Manager
Now-a-days many of the banks engage a Customer Relation Manager (CRM) who will help not only solve your queries but also assist you in tax saving, investment, mutual fund schemes, insurance, bank procedures, etc. You need to just call your CRM and he/ she will assist you solve your problem.
(7) Online Banking Facilities
If you maintain a savings account, you can make many transactions online also such as payment of bills, fund transfers using RTGS/ NEFT or IMPS, etc. This will save your time and efforts.
Saving Bank Rate Of Interest
(8) Provides ATM/ Debit Card
Banks Savings Accounts Interest Rates
You will be offered a debit or ATM card with a nominal charge or without any charges, as offered by your bank. With the help of this card, you can withdraw the funds, make transactions in shops, make payments of bills, etc.
(9) Helps you Get Credit or Loan
The relation you maintain with the bank will help you in getting credits from the bank such as home loan, personal loan. You will also be in a position to negotiate with the banker on the interest rates.
(10) No Cap on Deposits
There is no limit on the amount deposited and number of times it is deposited.
Bank Of India Interest Rate On Saving Account
(11) Facility to link Loan EMIs, Mutual Fund SIPs or RD deductions
You get a facility to link your monthly loan EMIs, Mutual Fund SIPs or RD deductions through the savings bank account.
(12) Free Mobile App
Bank Rates On Savings Accounts
Most of the banks provide their mobile app for free. Through this app, you can get to know your account balance, check your statement, make transactions, easy transfer of money, etc.