RBL Financial institution has introduced an rate of interest revision on financial savings financial institution deposits. After the modification, the financial institution is now allowing financial savings accounts to earn as much as 7.00% in curiosity. Based on the financial institution’s official web site, the brand new financial savings account rates of interest will take impact on April 5, 2023.
RBL Financial institution Financial savings Account Curiosity Charges
The financial institution now provides an rate of interest of 4.25% on financial savings accounts with a day by day steadiness of as much as Rs. 1 lakh, and RBL Financial institution now provides an rate of interest of 5.50% on financial savings accounts with a day by day steadiness of over Rs. 1 lakh and as much as Rs. 10 lakh. For financial savings accounts having a day by day steadiness of greater than Rs. 10 lakh however lower than Rs. 25 lakh, RBL Financial institution is giving an rate of interest of 6.00%, and for accounts with a day by day steadiness of greater than Rs. 25 lakh however lower than Rs. 7.5 Crore, it’s providing an rate of interest of seven.00%.
On financial savings accounts with day by day steadiness of above Rs. 7.5 Crore and upto Rs. 25 Crore and on financial savings accounts with day by day steadiness of above Rs. 25 Crore upto Rs. 50 Crore, RBL Financial institution is providing an rate of interest of 6.25%. RBL Financial institution is providing an rate of interest of 5.25% on financial savings accounts with day by day steadiness of above Rs. 50 Crore upto Rs. 100 Crore and the financial institution is now providing an rate of interest of 6.00% on financial savings accounts with day by day steadiness of above Rs. 100 Crore upto Rs. 200 Crore. On financial savings accounts with day by day steadiness of above Rs. 200 Crore upto Rs. 400 Crore, the financial institution is paying an rate of interest of 4.00% and on financial savings accounts with day by day steadiness of above Rs. 400 Crore, the financial institution is now providing an rate of interest of 5.25%.
“With impact from April 1, 2016, the periodicity of cost of curiosity on Financial savings Financial institution Account has been modified to quarterly. Accordingly financial savings Financial institution curiosity calculated on day by day product foundation can be paid at quarterly intervals on thirtieth June, thirtieth September, thirty first December & thirty first March every year,” RBL Financial institution has talked about on its web site.
RBL Financial institution Financial savings Account Curiosity Charges Calculation
As much as Rs. 1 lakh in financial savings account balances obtain 4.25% annual curiosity. Curiosity can be paid on balances exceeding Rs. 1 lakh primarily based on the worth vary given under, underneath which the day by day quantity falls on that day.
Day | Every day steadiness within the Account | Calculation Methodology |
Day 1 | Rs. 85,000 | Curiosity Price can be calculated 4.25% for your entire steadiness (e.g. 85,000*4.25% /365) |
Day 2 | Rs. 1,85,000 | Curiosity Price as much as Rs. 1 Lakh can be calculated at 4.25% p.a. for remaining balances Curiosity Price can be calculated at 5.50% (e.g. 1,00,000*4.25% /365) + (85,000*5.50% /365) |
Day 3 | Rs. 11, 85,000 | Curiosity Price as much as Rs. 1 Lakh can be calculated at 4.25% p.a. for remaining balances Curiosity Price can be calculated 6.00% for your entire steadiness (e.g. 1,00,000*4.25% /365) + (10,85,000*6.00% /365) |
Day 4 | Rs. 26,00,000 | Curiosity Price as much as Rs. 1 Lakh can be calculated at 4.25% p.a. for remaining balances Curiosity Price can be calculated 7.00% for your entire steadiness (e.g. 1,00,000*4.25% /365) + (25,00,000*7.00% /365) |
Supply: RBL Financial institution |
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