RBL Bank revises interest rates on savings accounts, check details here
Premium- The new rates will be effective from 5 September.
Amid the rise in rates by Reserve Bank of India, private sector lender RBL Bank on 2 September announced to increase the interest rates by 0.25 per cent to 1 per cent on various daily balances.
The new rates will be effective from 5 September.
According to the RBL Bank's official website, the interest rates have been hiked by 0.25 per cent on a balance above ₹25 lakh and up to ₹1 crore, above ₹1 crore and up to ₹3 crore, and above ₹3 crores up to ₹5 crore respectively.
Apart from this, the bank hiked the interest rate by 0.50 per cent to 6.25 per cent for balance above ₹5 crore up to ₹7.5 crore. Between ₹7.5 crore to ₹10 crore, the bank will offer 6.10 per cent, while balance between ₹10 crore to ₹50 crore will be offered a 0.35% hike form its existing 5.75% interest rate.
The bank has hiked 1% interest rate for balances above ₹100 crore up to ₹200 crore and will provide 6 per cent interest. However, for balance over ₹500 crore, the bank hiked the interest rate by 0.50 per cent from its 4 per cent rate provided earlier. While, for balance above ₹200 crore to ₹250 crore, the bank will now offer 4 per cent interest rate.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less