rbl bank interest rates: RBL Bank revises savings account interest rates; earn up to up to 7.5% interest rate

RBL Bank raised the interest rates on its savings accounts including NRE/NRO Savings by up to 50 basis points (bps) on select amount and have reduced on select amount, according to the bank’s official website. The new rates are applicable from August 21, 2023.

RBL Bank savings account interest rates

For savings accounts with a daily balance of up to Rs. 1 lakh, the bank will pay an interest rate of 4.25%, while the bank pays an interest rate of 5.50% on savings accounts with a daily balance of over Rs. 1 lakh and up to Rs. 10 lakh.

RBL Bank will pay an interest rate of 6.00% on savings accounts with daily balances of more than Rs. 10 lakh and up to Rs. 25 lakh. The bank has raised the rate by 50 basis points, from 7% to 7.50%, on accounts with daily balances of more than Rs. 25 lakh and up to Rs. 3 Crore.

The bank reduced the interest rate on savings accounts with daily balances of more than Rs. 3 crore up to Rs. 25 crore by 50 basis points, from 7% to 6.5%. RBL Bank offer a 6.25% interest rate on savings accounts with daily balances of more than Rs. 25 crore up to Rs. 50 crore. RBL Bank customers will earn an interest rate of 6.00% on a savings account with a daily amount of more than Rs. 100 crore and up to Rs. 200 crore, and an interest rate of 4% on accounts with daily balances off more than Rs. 200 crore upto Rs. 400 crore. Above Rs. 400 crore, it offers 6.75%.

Points to note:
• Interest will be calculated and accrued daily based on the end of day balance in the account.
• The interest is paid / credited to the customer’s account on a quarterly basis on 30th June, 30th September, 31st December and 31st March each year.