Today, we’re going to tell you about a bank that offers its customers very good interest rates on their savings accounts. By depositing your money in this savings account, you can earn significant returns. We’re talking about Slice Small Finance Bank. Let’s learn the details.
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Bank savings accounts: To keep their money safe, people open bank accounts and deposit their money there. Banks open many types of accounts, one of which is a savings account. Deposits in a savings account provide returns at a fixed interest rate. This is why it is called a savings account, as the money deposited in this account also generates income. Different banks in the country offer different interest rates on their savings accounts. Typically, banks offer returns of 2 to 3 percent on their savings accounts.
Today, we are going to tell you about a bank that is offering its customers a very good interest rate on its savings accounts. Therefore, by keeping money in this savings account, you can earn a very good return. We are talking about Slice Small Finance Bank. Let’s learn the details.
Slice Small Finance Bank Savings Account
Slice Small Finance Bank offers its customers a 5.25% annual interest rate on their savings account. This interest rate is significantly higher than other banks.
Significantly, this savings account has no minimum balance requirement. There are no maintenance charges or penalties. Interest is calculated on a daily basis, and interest is credited to the account every day.
To illustrate, suppose you have a deposit of ₹1 lakh in your account, you will earn an annual interest of ₹5,250. This translates to ₹14 per day. Earning interest daily also provides the benefit of compounding, meaning you earn interest on interest.
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