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Indian Bank brings 2-tier interest rate for savings A/Cs

SBI continues to offer 4 per cent interest on savings account balance of Rs 1 crore and above

Press Trust of India  |  New Delhi 

PSU lender on Friday said it will offer an of 4 per cent per annum on savings account with an incremental balance of over Rs 50 lakh and 3.50 per cent per annum for up to Rs 50 lakh.

The lender in a statement said it "has introduced two tier structure for saving accounts and will offer 4 per cent interest per annum for incremental balance over Rs 50 lakh and 3.50 per cent per annum for balance up to Rs 50 lakh."


The new will be effective from August 16, 2017, the said in a filing.

Recently, the country's largest lender of had slashed on savings account by 50 basis points to 3.5 per on balance of Rs 1 crore and below.

However, continues to offer 4 per cent interest on savings account balance of Rs 1 crore and above.

First Published: Fri, August 11 2017. 23:08 IST
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