Canara Bank
On March 1, 2022, this public sector lender changed the interest rate on savings accounts. Canara Bank is offering the interest rates shown below on National, NRO and NRE Savings Bank Accounts following the change.
| Slabs | KING(%) |
|---|---|
| For outstanding balance less than Rs. 50,000,000 | 2.90% |
| For an exceptional balance of Rs. 50 Lakh to less than Rs 100 Cr | 2.90% |
| For exceptional balance of Rs. 100 Cr to less than Rs 300 Cr | 3.05% |
| For exceptional balance of Rs. 300 Cr to less than Rs 500 Cr | 3.05% |
| For an exceptional balance of Rs 500 Cr to less than Rs 1000 Cr | 3.35% |
| For an exceptional balance of Rs 1000 Cr and more | 3.50% |
| Source: Bank website |
Overseas Indian Bank
On March 10, 2022, Indian Overseas Bank changed the interest rate on savings bank deposits. Here are the savings bank interest rates as of March 10, 2022.
| Savings bank A/c. | Balance up to Rs. 25 lacs | Balance above Rs. 25 Lacs up to Rs. 1 Crore | Balance above Rs. 1 Crore |
|---|---|---|---|
| With possibility of checkbook | 2.75 | 2.75 | 2.9 |
| Without the possibility of a checkbook | 2.75 | 2.75 | 2.9 |
| No frills account | 2.75 | 2.75 | 2.9 |
| Non-resident | 2.75 | 2.75 | 2.9 |
| NRO | 2.75 | 2.75 | 2.9 |
| ENR | 2.75 | 2.75 | 2.9 |
| Source: Bank website |
Equitas Small Finance Bank
Equitas Small Finance Bank changed the interest rate on savings accounts on March 21, 2022. The bank now offers a maximum interest rate of 7.00% following the revision. The interest rates shown below will be calculated on the basis of the daily closing account balance and paid quarterly by the bank.
| Daily Closing Balance | Rate slab |
|---|---|
| Up to ₹1 lakh | 3.50% |
| Above ₹1 lakh and up to ₹5 lakh | 6.00% |
| Above ₹5 lakhs and up to ₹2 crore | 7.00% |
| Above ₹2 crore | 5.50% |
| Source: Bank website |
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank changed the interest rate on savings bank accounts on March 1, 2022. Here are the interest rates on domestic savings accounts.
| Balance in Rs | Interest rate |
|---|---|
| Balance up to 1 Lakh | 3.75% per year |
| Incremental balance above 1 Lakh up to 25 Lakhs | 6.50% per year |
| Incremental balance above 25 Lakhs | 7.00% per year |
| Source: Bank website |
