RBL Bank Revised Interest Rates On Savings Account, New Rates Effective From March 1, 2023

RBL Bank, a leading private sector bank, revised its interest rates on the savings account. . According to the bank's official website, the new rates will be effective from March 01, 2023. The revised savings account interest rates are applicable to domestic savings accounts, including NRE/NRO Savings. The bank increased the rates on savings accounts by 50 to 75 bps.

RBL Bank Savings Account Interest Rates

RBL Bank continue to pay an interest rate of 4.25% on savings accounts with a daily balance of up to Rs. 1 lakh, in addition, the bank continues to offer an interest rate of 5.50% on savings accounts with a daily amount of over Rs. 1 lakh and up to Rs. 10 lakh and 6% for a savings account 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 6.50% to 7%, for savings accounts with daily balances of more than Rs. 25 lakh and up to Rs. 7.5 Crore. The bank increased the interest rate on savings accounts with daily balances of more than Rs. 7.5 crore and up to Rs. 25 crore by 75 basis points, from 6.25% to 7%.

The Bank will continue to offer an interest rate of 6.25% on savings accounts with daily balances of more than Rs. 25 crore and up to Rs. 50 crore. Also, the Bank will continue to give an interest rate of 6% on a savings account with a daily amount of more than Rs. 100 crore and up to Rs. 200 crore.

The bank will continue to pay an interest rate of 5.25% on savings accounts with daily balances of more than Rs. 50 crore and up to Rs. 100 crore. The Bank will continue to give interest rates of 4.00% on daily balances of more than Rs. 200 crore up to Rs. 400 crore and 5.25% on daily balances more than Rs. 400 crore.

Interest rates on Savings Deposit (including NRE/NRO Savings) w.e.f. March 01, 2023

Daily balance	Rate of Interest (p.a.) effective till February 28, 2023	Rate of Interest (p.a.) w.e.f. March 01, 2023
Upto Rs. 1 lakh	4.25%	4.25%
Above Rs. 1 lakh upto Rs. 10 lakh*	5.50%	5.50%
Above Rs. 10 lakh upto Rs. 25 lakh*	6.00%	6.00%
Above Rs. 25 lakh and upto Rs. 7.5 Crore*	6.50%	7.00%
Above Rs. 7.5 Crore upto Rs. 25 Crore*	6.25%	7.00%
Above Rs. 25 Crore upto Rs. 50 Crore*	6.25%	6.25%
Above Rs. 50 Crore upto Rs. 100 Crore*	5.25%	5.25%
Above Rs. 100 Crore upto Rs. 200 Crore*	6.00%	6.00%
Above Rs. 200 Crore upto Rs. 400 Crore*	4.00%	4.00%
Above Rs. 400 Crore*	5.25%	5.25%

Source - rblbank.com