# The 1st 1 Lakh amount deposited in savings acc will NEVER get interest @7% ..EVER!

**URL:** <https://community.goniyo.com/t/the-1st-1-lakh-amount-deposited-in-savings-acc-will-never-get-interest-7-ever/5843>\
**Category:** Banks\
**Tags:** niyo-equitas\
**Created:** [April 25, 2021, 3:43pm UTC](https://community.goniyo.com/t/the-1st-1-lakh-amount-deposited-in-savings-acc-will-never-get-interest-7-ever/5843 "2021-04-25T15:43:06Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![lalitp](https://avatars.discourse-cdn.com/v4/letter/l/5e9695/32.png) [@lalitp](https://community.goniyo.com/u/lalitp)\
**Post date:** [April 25, 2021, 3:43pm UTC](https://community.goniyo.com/t/the-1st-1-lakh-amount-deposited-in-savings-acc-will-never-get-interest-7-ever/5843/1 "2021-04-25T15:43:06Z")

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Hi Niyo Team,

Just wanted to clarify this -  
So the 1st 1 Lakh amount will not get interest @7% - even if we maintain it through out the year?

I actually opened account considering the 7% interest rates (on which complete branding of NiyoX and Equitas bank is going on ) and somehow planned and bought together 1 Lakh rs and was just planning to deposit in the NiyoX account!!  
And now I get to know that the 1 Lakh will only earn interest rates of 3.5% which is as same as my normal bank rates - great!!

Whats the point of pushing people saying 7% interest and luring them to open accounts?

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**Author:** ![goneo](https://sea1.discourse-cdn.com/flex021/user_avatar/community.goniyo.com/goneo/32/1287_2.png) [@goneo](https://community.goniyo.com/u/goneo)\
**Post date:** [April 26, 2021, 4:26am UTC](https://community.goniyo.com/t/the-1st-1-lakh-amount-deposited-in-savings-acc-will-never-get-interest-7-ever/5843/2 "2021-04-26T04:26:08Z")

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Hi,

This was made clear upfront many times that on 1st 1 lac we will get interest @3.5% pa only and any incremental amount above 1 lac will attract interest @7% .  
No fault of Niyo at least on this front.