Savings Bank Account

Savings Bank Account Interest Rate effective 1st November, 2011
Account Type Rate p.a
a. Daily Balance upto Rs 1 Lac 5.50%
b. Daily Balance above Rs 1 Lac 6.00%
Non Resident
a. NRO 4.00%
b. NRE 4.00%
Points to note:
• Revised interest rates are applicable w.e.f 1st November 2011 till further notice. The Bank has the right to change the rate at its discretion.
• Interest will be calculated on daily basis, basis the end of day ledger balance in the account. Interest of 5.50% p.a will be applied for amount upto Rs.1,00,000/-, while 6% p.a will be applied on the incremental amount.
• Balances of Grouped Savings Accounts will not be added before applying rates. The grouping of balance is only from the perspective of minimum balance requirement perspective and/or balance based transaction pricing.
• Interest Credit is shown in the E-Statement / Physical Statement / Net-Banking statement.
• Interest is paid at every calendar quarter on 30th June, 30th September, 31st December and 31st March.



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