Benefits for Corporates:
Benefits for Employee:
Disclaimer - Daily balances in Savings Account up to Rs. 1 lakh continue to earn 3.50% interest p.a. and daily balances over Rs. 1 lakh and up to Rs. 5 crores continue to earn 4% interest p.a. Interest rate on daily balances in Savings Account above Rs. 5 crores stands revised at 3.75% p.a. wef Nov 1, 2020. These interest rates are applicable for Resident Accounts only.
Example: If End of Day Savings Account balance is Rs. 1,50,000, then Rs. 1,00,000 will earn interest of 3.50% p.a. and Rs. 50,000 (being the balance in excess of Rs. 1,00,000), will earn interest of 4.00% p.a.