Calculation of Interest

How the interest is calculated and credited is it monthly or quarterly or annually

Hi!

I hope the following info answers your question.

Daily Closing Balance Rate Slab
Up to ₹ 1 lakh 3.50%
Above ₹ 1 lakh and upto ₹ 1 cr 7.00%
Above ₹ 1 cr 6.00%

Interest will be calculated on the daily closing balance of the account

Interest will be paid on quarterly basis by direct credit in the savings account

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