If you are thinking of opening a savings account, then you have a good chance. In recent times, many banks have increased the interest rates on savings accounts.
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If you are thinking of opening a savings account, then you have a good chance. In recent times, many banks have increased the interest rates on savings accounts. The famous private sector bank RBL Bank has increased the interest rates on the savings bank account. After today’s announcement, now this bank is offering a maximum interest rate of 6.50 per cent on savings account. This is much higher than India’s annual consumer price inflation, which stood at 5.72 per cent in December.
Hence, RBL Bank savings account users can now enjoy the benefits of their savings account deposits, which beat inflation.
today’s big news
new rates of rbl bank
The latest interest rates on RBL Bank’s savings account are applicable from today i.e. January 25, 2023. Customers will get interest at the rate of 4.25 per cent on savings account with balance up to Rs 1 lakh. Whereas, 5.50 percent interest rate is available in the bank on the daily balance of more than Rs 1 lakh to Rs 10 lakh.
At present, the bank is paying interest at the rate of 6.00 per cent on savings accounts with balance above Rs 10 lakh to less than Rs 25 lakh. At the same time, the bank has a maximum interest rate of 6.50 percent on savings accounts with a balance of more than Rs 25 lakh and up to Rs 7.5 crore.
On the other hand, interest is being paid at the rate of 6.25 per cent on savings accounts with daily balance of more than Rs 7.5 crore and up to Rs 50 crore. At the same time, there is an interest rate of 5.25 per cent on savings account with a balance of more than Rs 50 crore and up to Rs 100 crore. Customers have interest rates of 6.00 per cent and 4.00 per cent respectively on savings account with balance between Rs 100 crore to less than Rs 200 crore and Rs 200 crore to less than Rs 400 crore.
On the other hand, the bank has increased the interest rate from 4.00 per cent to 5.25 per cent on balances above Rs 400 crore and up to Rs 500 crore. That is, the interest rate on savings account has been increased by 75 basis points during this period.
Federal Bank customers also get more benefits
Earlier, Federal Bank had increased the interest rates on its savings account. According to the official website of the bank, the new rates have become effective from today i.e. 23 January 2023. Banks are now getting interest at the rate of 3.20 per cent less than the repo rate of RBI on savings accounts with a balance of less than Rs 5 lakh. At the same time, the interest rate of 3.20 percent less than the repo rate of RBI is available in private banks on amounts ranging from Rs 5 lakh to less than Rs 50 lakh.
On the other hand, Federal Bank is currently paying interest at the rate of 3.20 per cent less than the repo rate of RBI on savings account of Rs 50 lakh to less than Rs 2 crore in the bank. Federal Bank has 3.20 percent less interest rate than RBI’s repo rate on savings account with a balance of less than Rs 2 crore to Rs 5 crore.
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