New Delhi: RBL Bank has increased the interest rates on the amount deposited in the savings account. The new interest rates of the bank (RBL Bank Interest Bank) have come into effect on 5 September. The customers of RBL Bank can now get interested in their savings account at the maximum rate of 6.25 percent per annum. This rate is equal to the interest rate of fixed deposits of many banks. The country’s leading private bank ICICI is currently paying a maximum of 3.50 percent interest on the savings account. Similarly, the State Bank of India is also paying only 2.70 percent interest.
According to a report in Live Mint, RBL Bank will now pay interest at the rate of 4.25 percent on the amount deposited in the savings account up to 1 lakh. At the same time, interest will be available at the rate of 5.50 percent per annum on deposits ranging from Rs 1 lakh to Rs 10 lakh. At the same time, the bank will now pay 6 percent interest on savings account deposits from Rs 10 lakh to Rs 25 lakh.