SBI Savings Account Interest Rate

SBI Savings Account Interest Rate
SBI Savings Account Interest Rate

SBI Savings Account Interest Rate: With effect from 10.10.2019, the interest rates on savings account deposits with State Bank of India (SBI) will fetch lower interest rates.

India’s biggest bank i.e SBI’s Savings Account Interest Rate has been reduced for balances below ₹1 lakh to 3.25% from 3.5% from November 1. SBI had also cut interest rates of fixed deposits or FDs last month.

SBI, the largest commercial bank in terms of assets, deposits, branches, customers and employees, has a deposit base of over ₹30 lakh crore.

SBI latest FD interest rates

(below ₹2 crore) for general public effective 10 October

With regards to fixed deposit rates, the bank has yet again cut rates. This is in line with the general trend seen in this space as most banks have been cutting rates on their fixed deposits over the past few months.

TenorsRevised for public w.e.f 10-10-19Revised for Senoir Citizen
7 days to 45 days 4.50% 5.00
46 days to 179 days 5.50% 6.00
180 days to 210 days 5.80% 6.30
211 days to less than 1 year 5.8% 6.30
1 year to less than 2 year 6.4% 6.90
2 years to less than 3 years 6.25% 6.75
3 years to less than 5 years 6.25% 6.75
5 years and up to 10 years 6.25% 6.75

State Bank of India (SBI) offers different kind of accounts for serving different financial needs of users. Current accounts and savings accounts are two main types of accounts offered by the bank. SBI’s savings account is a basic account that keeps customers’ money safe and helps them grow their savings moderately. 

NEFT CHARGES IN SBI

SBI Savings Account Interest Rates

Amount Interest
Up to Rs 1 lakh 3.25%
Above ₹1 lakh 3%

SBI Savings account Advantage

Card Convenience: Get your Free ATM cum Debit Card and have access to the widest network of over 21000 ATMs of SBG ATMS and over 40000 of other bank ATMs across the country

NetBanking: Monitor and control your funds through SBI Internet Banking

Earn Interest at Term Deposit rates through Savings Plus Account.

Link your Savings Bank Account to your Multi Option Deposit (MOD) Account to earn additional interest on your surplus money

Value Added Features

Transfer of accounts between our wide network of branches (more than 9000) without any charge.

Nomination facility – Available

Low minimum balance requirements

50 cheque leaves free, in a year.

FAQ

What is SBI Savings Account Interest Rate?

With effect from 10.10.2019, the interest rates on savings account deposits with State Bank of India (SBI) will fetch lower interest rates.
Up to Rs 1 lakh – 3.25%
Above ₹1 lakh – 3%

What is the Interest Rate on SBI Savings Bank Account?

With effect from 10.10.2019, the interest rates on savings account deposits with State Bank of India (SBI) will fetch lower interest rates.
Up to Rs 1 lakh – 3.25%
Above ₹1 lakh – 3%

What are the Interest Rate on SBI Savings Bank Account?

Up to Rs 1 lakh – 3.25%
Above ₹1 lakh – 3%

Gohash

Tony Stark

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