AU SFB Revises Savings Account Interest Rates Effective From Today: Details Here

AU Small Finance Bank (SFB) has announced an interest rate revision on its savings account deposits. Following the revision the bank is now paying a maximum interest rate of 7.25% to its savings account holders. You may take advantage of savings account interest rates of up to 7.25% p.a. at AU Small Finance Bank with monthly credits, making it one of the most competitive accounts in the market. The new savings account interest rates are effective as of today, September 11, 2023, according to the bank's official website.

AU Small Finance Bank Savings Account Interest Rates

On savings account balances of less than INR 1 Lac, the bank will pay an interest rate of 3.50% and on savings account balances of INR 1 Lac to less than INR 10 Lacs, AU SFB will now promise an interest rate of 5.00%. AU SFB will now promise an interest rate of 7.00% on savings account balances of INR 10 Lacs to less than INR 1 Cr and the bank will now pay an interest rate of 7.25% on savings account balances of INR 1 Crore to less than INR 5 Crores. On savings account balances of INR 5 Crore to less than INR 10 Crores, customers will get an interest rate of 7.00%.

The interest rates listed above for savings accounts will be calculated daily and paid at monthly intervals (i.e., at the end of each month). The aforementioned interest rates are applicable to the existing incremental amounts that fall within the specified amount slab.

"For example: If the total balance is INR 5 Crores, then the following grid will be applicable: For balances of INR 1 to INR 99,999: 3.50%, For incremental balances of INR 1 Lac to INR 9,99,999: 5.00%, For incremental balances of INR 10 Lacs to INR 24,99,999: 7.00%, For incremental balances of INR 25 Lacs to INR 1 Crore: 7.00% and for incremental balances of INR 1 Crore to INR 5 Crores: 7.25%," mentioned AU SFB on its website.

Bajaj Allianz Life Insurance and AU Small Finance Bank (AU SFB) announced their strategic alliance on Friday in order to provide customers of the bank with life insurance products from Bajaj Allianz Life. Through this relationship, the bank's new and existing customers may now select from a range of retail products from Bajaj Allianz Life, including term, savings, retirement, and investment options.