8.75% interest for senior citizens

Ujjivan Small Finance Bank is offering 8.25% interest on FDs for a period of 18 months to general customers. Senior citizens get 8.75% interest for the same period. Earlier, the highest interest rate of 8.25% was offered on a period of 12 months.

Interest Rates on FD

Ujjivan Small Finance Bank offers FD interest rates of 3.75% for 7 to 29 days tenure, 4.25% for 30 to 89 days tenure and 4.75% for 90 to 180 days tenure. The bank is offering an interest rate of 7% for deposits of 6 months to less than 12 months and 8.10% for deposits of 12 months to less than 18 months. The highest interest rate of 8.25% is offered on 18-month tenure.

The interest rate on FDs with tenure of 18 months 1 day to 990 days is 7.75%. FDs with tenure of 991 days to 60 months get an interest rate of 7.20%. For long term deposits with tenure of 60 months 1 day to 120 months, the bank is offering an interest rate of 6.50%.

Interest Rates on Savings Account

You also get interest on the balance in your savings account. If your account balance is up to Rs 1 lakh, you will get 3.25% interest per annum. If your balance is more than Rs 1 lakh but less than Rs 5 lakh, the interest rate increases to 5% per annum. You will get 7.25% interest per annum on a balance of more than Rs 5 lakh and up to Rs 25 lakh. If your balance is more than Rs 25 lakh, you can get 7.50% interest per annum.

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The post Bank Saving Account: Get up to 7.50% interest on the balance in the savings account, check bank details first appeared on Rightsofemployees.com.

If you are going to start your financial journey, then it is very important for you to have a savings account. Not only does your money remain safe in the savings account, but you also get low returns in it. Savings account interest is generally calculated daily based on the balance on the day the account closes and is paid quarterly.

In case of any emergency, you can withdraw money from the savings account. For those who want to open interest bearing deposit account, here we are telling which banks are providing interest rate up to 7.50%.

Ujjivan
Small Finance Bank Ujjivan Small Finance Bank is the only bank to pay the highest interest rate of 7.50% on deposits above ₹25 crore.

DCB Bank
DCB Bank is offering an interest rate of 7.00% on balances between Rs 25 lakh to Rs 2 crore. These interest rates are effective from August 22, 2022.

Equitas Small Finance Bank
Equitas Small Finance Bank’s savings account interest rates became effective from November 9, 2022. The bank is paying an interest rate of 7.00% on savings bank deposits above Rs.5 lakh and up to Rs.5 crore.

AU Small Finance Bank
Interest rates applicable to AU Small Finance Bank savings bank deposits are effective from October 10, 2022. The bank is offering an interest rate of 7% on balances ranging from Rs 25 lakh to less than Rs 1 crore.

Fincare Small Finance Bank
Interest rates applicable on savings bank deposits of Fincare Small Finance Bank are effective from July 1, 2021. The bank is offering an interest rate of 7% on savings account balances below Rs 5 lakh and Rs 1 crore.

Utkarsh Small Finance Bank
Interest rates applicable on savings bank deposits of Utkarsh Small Finance Bank are effective from June 01, 2022. On balance above ₹25 lakh in savings account, the bank is offering an interest rate of 7.00% p.a.

Unity Small Finance Bank
Interest rates applicable from January 22, 2022 are applicable on savings bank accounts in Unity Small Finance Bank. The bank is offering 7% interest on savings account balances of Rs 1 lakh to Rs 10 crore and above.

The post Bank Saving Account: These 7 banks are giving 7% to 7.30% interest on savings account, check list quickly first appeared on Rightsofemployees.com.