Saving Account Interest: Banks across the country offer the option of opening different types of savings accounts according to the needs and service of the customers. Many banks also offer attractive interest on savings accounts to their customers, which prove to be very beneficial for the customers. The interest on the savings account is calculated on a daily basis. It depends on your daily closing balance.
The interest on the savings account is credited to your account at monthly or quarterly intervals as per the rules of the bank. How much interest will be available on the savings account depends on the bank. Senior citizens get the highest interest on FD. They do not get this benefit on savings account. Let us know how much interest SBI, ICICI Bank, HDFC Bank, PNB, Canara Bank are paying on savings account.
Interest rate on SBI Savings Account (SBI Saving Account interest rate)
The interest rate is 2.70 per cent on savings account up to Rs 10 crore and 3 per cent on balance above Rs 10 crore.
HDFC Savings Account
HDFC Bank’s savings account offers 3% interest if the balance is up to Rs 50 lakh. The interest is 3.50 per cent on balance above Rs 50 lakh.
ICICI Bank Savings Account
At the end of a day, the interest rate will be 3 percent on balance less than Rs 50 lakh. Balance above Rs 50 lakh at the end of the day will attract an interest rate of 3.5 per cent.
Punjab National Bank
Punjab National Bank gives 2.70% interest rate on balance less than Rs 10 lakh. 2.75 percent interest is available on account balance of less than Rs 10 lakh to Rs 100 crore. PNB gives 3% interest on accounts of Rs 100 crore and above.
Canara Bank Savings Account
Canara Bank is paying interest between 2.90 percent to 4 percent on the savings account. 4% interest will be given on having a balance of Rs 2000 crore.
