HDFC Bank, a private sector lender, revised its interest rates on savings bank accounts today. The interest rate for savings bank deposit accounts will be 3.00% per annum on savings balances below Rs 50 lakh and 3.50% on savings balances above Rs 50 lakh, effective April 6, 2022. Previously, the bank offered an interest rate of 3% on savings account balances below Rs 50 lakh, 3.50% on savings account balances between Rs 50 lakh and Rs 1000 crore and 4.50% on savings account balances over Rs 1000 crore.
HDFC Bank Savings Account Interest Rates
Here are the interest rates on savings bank accounts, including domestic, NRO and NRE deposits, as of April 6, 2022. Savings bank interest will be calculated based on your daily account balances and paid by the bank at quarterly intervals. .
|Savings balance (Rs)||Interest rate pa|
|Fewer rupees. 50,000,000||3.00%|
|From and above Rs 50 Lakh||3.50%|
|Source: Bank website. Effective April 6, 2022|
Customers of HDFC Bank should know that today the bank has increased the interest rate on fixed deposits of less than Rs 2 crore which mature in one year to two years. Previously, the bank offered an interest rate of 5% on these deposits, but from April 6, 2022, the interest rate will be 5.1% on deposits with a maturity of 1 year and 1 year 1 day – 2 years. Click here for more details.
On the other hand, the Punjab National Bank (PNB) has reduced the interest rate from 2.75% to 2.70% on savings accounts with balances below Rs 10 lakh and the interest rate has also been reduced from 2.80% to 2.75% on savings accounts with balances. over Rs 10 lakh. Click here for more details.
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Article first published: Wednesday, April 6, 2022, 11:18 a.m. [IST]