SBI Savings Interest Rate
After modification, but saving account For balances of Rs 10 crore and above, the bank will now offer an interest rate of 3% p.a. and balances below Rs. 10 crores, it will offer 2.70%.
Source: SBI Website
SBI Historical
savings interest rate
Source: SBI Website
savings account interest
As per the Savings Bank Account Rules, “Interest will be calculated on daily product basis. Interest will be credited to the account at quarterly intervals. Interest will be paid only on working up to Rs. 1/- or more. Thereafter, fifty paise and above will be rounded off to the next higher rupee and any less than that will be ignored. In the event of the accounts being frozen by the enforcement authorities, the bank will continue to credit the interest in the account on a regular basis.
inactive accounts
Account holders are requested to do regular transactions in their accounts. If the account is not operated for a period of 24 months then it is classified as inactive. No fee will be charged for activating inactive accounts.
How to Open SBI Insta Plus Savings Account?
Step 1: Download YONO App
Step 2: Click on New in SBI-Open Savings Account? Without a branch visit? insta plus savings account
Step 3: Enter your PAN, Aadhaar details
Step 4: Enter the OTP sent to the Aadhaar registered mobile number.
Step 5: Enter other relevant details
Step 6: Schedule a Video Call
Step 7: Log in to YONO App at the stipulated time through Resume and complete the video KYC process
Step 8: Your Insta Plus savings account will be opened, the account will be activated for debit transactions after verification by the bank officials.