Suryoday Small Finance Bank (SFB) has changed interest rates on domestic, non-resident and non-resident savings accounts. The new rates are effective as of today, January 20, 2022, according to the bank’s official website. Savings Ujjwal, Savings Aditya, Savings Classic, Savings Supreme, Savings Health & Wellness and Basic Savings Bank Deposit Account are some of the savings accounts offered by Suryoday Small Finance Bank to its customers. The bank currently charges an interest rate of 4.00% to 6.25% on these accounts.
Suryoday Small Finance Bank Savings Account Interest Rate
Effective January 20, 2022, the bank is offering an interest rate of 4.00% on a daily closing balance tranche of up to Rs. 1 Lakh. Suryoday Small Finance Bank is currently charging an interest rate of 6.25% on daily closing balances over Rs. 1 lakh up to and including Rs. 1 crore and an interest rate of 5.00% on daily closing balance slabs over Rs. 1 Cr. These rates apply to domestic, non-resident and non-resident savings accounts. Previously, the bank offered an interest rate of 6.00% on daily closing balances above Rs. 10 Lakhs from June 1, 2020 to January 19, 2022, but it has now lowered its interest rates to 5.00 % on daily closing balances above Rs. 1 Cr. The bank pays interest on a monthly basis on the last day of the calendar month. And starting today, Suryoday Small Finance Bank will offer the interest rates shown below on the additional amount based on the daily closing balance of a customer’s savings account.
|Daily Fence Slabs (Domestic/NRE/NRO)||% rate per year|
|Up to Rs included. 1,000,000||4.00%|
|Above Rs. 1 Lakh up to Rs inclusive. 1 crore||6.25%|
|Above Rs. 1 crore||5.00%|
|Source: Bank website. Wef January 20, 2022|
To note: As an exclusive alert for fixed deposit customers, two major private sector banks, ICICI Bank and Axis Bank, have changed interest rates on fixed deposits below Rs. 2 Cr today, 20th January 2022 Please see the following links for more details.
ICICI Bank changes interest rates on fixed deposits of less than Rs. 2 Cr (Wef 20 Jan 2022)
Axis Bank changes interest rates on fixed deposits of less than Rs. 2 Cr
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Article first published: Thursday, January 20, 2022, 12:58 p.m. [IST]