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Revision in Interest rates on Non Resident Savings Account

Effective 1st June 2016, Interest Rates applicable on NRI Savings account will be as under:

For account balance upto ( and including) Rs 1 Crore

 

4% p.a.

 

For account balance above Rs 1 Crore

 

4% p.a. – on initial amount of Rs 10 Lacs
6% p.a. – on remaining balance above Rs 10 Lacs

 

  • Interest will be calculated on daily basis, as per the end of day ledger balance in the account.
  • The above mentioned rate structure will be applicable on both NRO and NRE Savings accounts
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