Interest on Saving Account : Bank decides the interest rate on the basis of daily closing balance. Every bank gives interest to the customer at different times. Many banks pay interest every three months to the customer.
Mumbai: If you keep your deposit in a bank, the bank pays you interest on it. Savings account is the best option if you want to earn profit on your savings. The bank determines the interest rate based on the daily closing balance. Every bank gives interest to the customer at different times. Many banks pay interest to the customer every three months, while the same bank pays interest annually. This interest is earned on the basis of your deposits.
Every bank offers different interest rates on savings accounts. You can also deposit your savings in FD. FD is a type of investment. You get more interest in FD than savings account. Let’s know which bank pays interest on your savings account.
STATE BANK OF INDIA
Customers of India’s largest public sector bank State Bank of India (SBI) get a rate of 2.70 percent on deposits up to Rs 10 crore. At the same time, there is an interest rate of 3 percent on deposits above Rs 10 crore.
HDFC Bank
If you are also a customer of HDFC Bank, you will get 3 percent interest rate on savings account below Rs 50 lakh. On the other hand, if you have more than Rs 50 lakh in your account, you will get interest at the rate of 3.50 percent.
ICICI Bank
ICICI Bank customers will get 3 percent interest on deposits up to Rs 50 lakh. Deposits above Rs 50 lakh will carry an interest rate of 3.5 per cent.
Punjab National Bank
Punjab National Bank (PNB) offers customers an interest rate of 2.70 percent on deposits up to Rs 10 lakh. If a customer has Rs 10 lakh to Rs 100 crore deposited in his savings account, he gets an interest rate of 2.75 per cent. PNB offers 3 percent interest on deposits above Rs 100 crore.
Canara Bank
Canara Bank offers an interest rate of 2.90 percent to 4 percent to its customers. Maximum interest is earned on deposits of 2 crores. 4 percent interest is paid on this.
