Central Bank Of India Saving Account Interest Rate
Posted : admin On 4/8/2022Banks offer a range of financial products to their customers to meet their needs. These products also include Savings Account. People park their money with Savings Account for a variety of reasons. The most attractive features offered by a Savings Account are liquidity of funds, provides ATM/Debit card, paying utility bills through standing instructions, platform for net banking, online shopping, viewing statements online and facility of mobile banking.
- Central Bank Of India Saving Account Interest Rate Today
- Bank Rates On Savings Accounts
- What Is The Interest Rate Of Central Bank Of India
- Central Bank Of India Saving Account Interest Rate Singapore
- Central Bank Of India Saving Account Interest Rate Calculator
Check Savings Account interest rate and minimum balance at top banks in India. Know which bank gives highest interest rate on saving account. Get CIBIL Score Instantly for Free and Save around INR 4,800 a Year (Only for Wishfin Customers). This question is for testing whether you are a human visitor and to prevent automated spam submission. Audio is not supported in your browser. Kotak 811 Savings Account Review (Fastest Online Account Opening) Kotak 811 Digital Bank is one.
Earlier banks used to offer same rate on their savings accounts Interest rate i.e. 4% per annum and you used to get the same returns with any bank. But during the year 2012, Reserve Bank of India (RBI) has de-regulated interest on savings account and banks are now free to decide on the interest rate that they want to offer on savings account which directly benefits the customers. Due to stiff competition, banks have started paying higher saving interest rates like 6% to 7% in order to attract more and more people to open the account with them and enhance their customer base.
Savings Account Interest rates in 2021 is calculated on daily basis for the closing day balance which will get accumulated and will be paid to the customers on quarterly or half yearly basis. You can use Savings Interest Rate Calculator to calculate your saving interest.
Below list will help you selecting the best savings account in 2021 for parking your money in terms of higher interest rate and other features. It also facilitates you to calculate the interest amount on your deposit.
Important Aspects of a Savings Account that Should Be Kept in Mind
Central Bank Of India Saving Account Interest Rate Today
- Interest earned on the savings bank account is taxable. However, Section 80TTA of the Income Tax Act provides for a deduction of upto Rs 10,000 in each financial year. You will be eligible for this deduction whether the saving account is opened with a bank or a post office.
- Most of the banks offer you auto sweep savings accounts which provide a facility in which the bank interlinks your saving bank with a Fixed Deposit account and any excess amount in the savings bank is automatically transferred to the fixed deposit (FD). Under such account, your overall interest on savings account increases.
- You need to maintain a monthly average balance (MAB) in your savings account. If you fail to maintain the same, it attracts a non-maintenance fee. The monthly average balance (MAB) requirement varies from bank to bank and also varies based on whether it is in urban, semi-urban or rural branch.
- Savings accounts impose an upper limits on the number of free ATM withdrawals per month. If your ATM transactions go beyond this limit then they would be chargeable and you need to pay respective fee.
- Whenever there is no transaction in any account for more than a period of 24 months or 2 years, that account is categorised by the bank as a dormant account. Any savings or current account can become dormant due to prolonged non operation. You can reactivate your dormant account in some easy steps.
Saving Account Interest Rate List (as on 06 Mar 2021)
Bank Name | Rates (p.a.) | Limit | Calculate |
---|---|---|---|
Rbl Bank | 6% 6% | Upto Rs 1 Lakh Above Rs 1 Lakh to Rs 10 Lakhs | |
Dcb Bank | 4% 6% | Below Rs 1 Crore Above Rs 1 Crore to Rs 5 Crores | |
Yes Bank | 5% 6% | Below Rs 1 Lakh Rs 1 Lakh to Rs 1 Crore | |
Kotak Mahindra Bank | 5% 6% | Upto Rs 1 Lakh Above Rs 1 Lakh to Rs 1 Crore | |
Bandhan Bank | 4% 6% | Below Rs 1 Lakh Rs 1 Lakh & above | |
Indusind Bank | 4% 5% | Upto Rs 10 Lakhs Above Rs 10 Lakhs to Rs 1 Crore | |
Laxmi Vilas Bank | 4% 5% | Upto Rs 1 Lakh Above Rs 1 Lakh to Rs 5 Lakhs | |
Idbi Bank | 4% 4% | Upto Rs 25 Lakhs Above Rs 25 Lakhs | |
Uco Bank | 4% 4% | Upto Rs 50 Lakhs Over Rs 50 Lakhs | |
Bank Of India | 4% 4% | Upto Rs 50 Lakhs Above Rs 50 Lakhs | |
State Bank Of Mysore | 4% 4% | Upto Rs 1 Crore Above Rs 1 Crore | |
City Union Bank | 4% 4% | Upto Rs 1 Lakh Above Rs 1 Lakh | |
Indian Bank | 4% 4% | Upto Rs 50 Lakhs Above Rs 50 Lakhs | |
South Indian Bank | 4% 4% | Upto Rs 1 Lakh Above Rs 1 Lakh to below Rs 5 Crore | |
Union Bank Of India | 4% 4% | Upto Rs 25 Lakhs Above Rs 25 Lakhs | |
Jammu And Kashmir Bank | 4% 4% | For Any Amount Above Rs 10 Lakhs | |
Bank Of Maharashtra | 4% 4% | Upto Rs 25 Lakhs Above Rs 25 Lakhs | |
State Bank Of Hyderabad | 4% 4% | Upto Rs 1 Crore Above Rs 1 Crore | |
Indian Overseas Bank | 4% 4% | Upto Rs 25 Lakhs Above Rs 25 Lakhs | |
Tamilnad Mercantile Bank | 4% 4% | Upto Rs 1 Lakh Above Rs 1 Lakh | |
United Bank Of India | 4% 4% | Upto Rs 50 Lakhs More Than Rs 50 Lakhs | |
Karnataka Bank | 3% 4% | Upto Rs 1 Lakh Above Rs 1 Lakh to Rs 50 Lakhs | |
Canara Bank | 4% 4% | Upto Rs 50 Lakhs Above Rs 50 Lakhs | |
State Bank Of Patiala | 4% 4% | Upto Rs 1 Crore Above Rs 1 Crore | |
Dhanalakshmi Bank | 4% 4% | Upto Rs 50 Lakhs More Than Rs 50 Lakhs | |
Oriental Bank Of Commerce | 4% 4% | Upto Rs 25 Lakhs Above Rs 25 Lakhs | |
Vijaya Bank | 4% 4% | Below Rs 50 Lakhs Rs 50 Lakhs & above | |
Karur Vysya Bank | 4% 4% | Upto Rs 1 Lakh Above Rs 1 Lakh | |
Central Bank Of India | 4% 4% | Upto Rs 50 Lakhs Above Rs 50 Lakhs | |
State Bank Of Travancore | 4% 4% | Upto Rs 1 Crore Above Rs 1 Crore | |
Federal Bank | 4% 4% | Below Rs 50 Lakhs Rs 50 Lakhs & above upto Rs 10 Crores | |
Allahabad Bank | 4% 4% | Less than Rs 40 Lakhs Rs 40 Lakhs & above | |
Punjab National Bank | 4% 4% | Upto Rs 25 Lakhs Above Rs 25 Lakhs | |
Jammu And Kashmir Bank | 4% 4% | Upto Rs 10 Lakhs Above Rs 10 Lakhs to Rs 1 Crore | |
Axis Bank | 4% 4% | Below Rs 50 Lakhs Rs 50 Lakhs & above | |
Corporation Bank | 4% 4% | Below Rs 50 Lakhs Rs 50 Lakhs & above | |
State Bank Of Bikaner And Jaipur | 4% 4% | Upto Rs 1 Crore Above Rs 1 Crore | |
Hdfc Bank | 4% 4% | Below Rs 50 Lakhs Rs 50 Lakhs & above but below Rs 500 Crores | |
Andhra Bank | 4% 4% | Upto Rs 50 Lakhs Above Rs 50 Lakhs | |
Punjab And Sind Bank | 4% 4% | Upto Rs 20 Lakhs Above Rs 20 Lakhs | |
Dena Bank | 4% 4% | Upto Rs 25 Lakhs Above Rs 25 Lakhs | |
Syndicate Bank | 4% 4% | Upto Rs 25 Lakhs Above Rs 25 Lakhs | |
Icici Bank | 4% 4% | Below Rs 50 Lakhs Rs 50 Lakhs & above | |
Bank Of Baroda | 4% 4% | Upto Rs 50 Lakhs Above Rs 50 Lakhs | |
State Bank Of India | 4% 4% | Upto Rs 1 Crore Above Rs 1 Crore | |
Catholic Syrian Bank | 4% 4% | Upto Rs 1 Lakh Above Rs 1 Lakh to Rs 50 Lakhs |
Bank Rates On Savings Accounts
Disclaimer: The Saving Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your savings. Source: Bank WebsitesWho can Open a Savings Bank Account?
- Savings Bank Account can be opened in the name of an individual or in the names of two or more individuals.
- If it is a Joint account, it can be operated jointly or either/ survivor or former/ survivor clause.
- Savings Bank Account can be opened in the name of minor but is required to be operated by natural guardian.
Features of Savings Bank Account
- No special rate is offered to senior citizen
- TDS is not applicable
- Nomination facility is available
- Loan against deposit is not permitted
- Interest rate is decided by the bank
Facilities Offered by Savings Account
- Unique/ Personalized Account Number
- ATM-cum-Debit Card
- Cheque Book
- Pass book/ Bank Statement
- Nomination
- Standing Instructions
- Cheque Collection
- Instant Credit of Outstation Cheque upto Rs.15,000/-
- Internet Banking
- Mobile Banking
- Fund Transfer using NEFT, RTGS & IMPS
- SMS Alerts
- e-Statement
- Several offers and discounts on Debit Card
Account opening is subject to Citibank Terms and conditions and applicable RBI guidelines.
Citibank India does not market any product or service to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, and The Isle of Man. This [document]* is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, and The Isle of Man.
1Citibank will not levy any charge on cash withdrawals done overseas at any ATM although, please note other banks may charge fees for usage of their ATMs, which will be borne by the Account holder.
2Redemption of Reward Points:
- Minimum number of Reward Points required to redeem airlines = 500 Reward Points.
- Minimum number of Reward Points required to get Cash Back = 1,500 Reward Points
- You need to call 24x7 CitiPhone to redeem your Reward Points. Please quote the correct frequent flyer number, for airmiles redemption
3 Citibank N.A. provides no independent research or advice in the substance or preparation of the reports. The reports are provided for general information only and nothing contained in the reports constitutes a recommendation for the purchase or sale of any security. Although the statements of fact in this report are obtained from sources that Citibank N.A. consider reliable, we do not guarantee their accuracy and any such information may be incomplete or condensed.
4 Citibank N.A. provides investment services as a distributor of third party Investment products (shortly referred as ‘investment products’). Citibank N.A. does NOT provide investment advisory services in any manner or form. Investment products do not pertain to Citibank. Investment Products(i) are not bank deposits or obligations of or guaranteed by Citibank, N.A. Citigroup, Inc or any of its affiliates or subsidiaries; (ii) are not insured by any governmental agency and (iii) are subject to investment risks, including the possible loss of the principal amount invested. Past performance is not indicative of future results, prices/invested sum is subject to market risks which may result in appreciation or depreciation. The ownership of any investment decision(s) shall exclusively vest with the Investor after analyzing all possible risk factors and by exercise of his/her/its independent discretion and Citibank N.A shall not be liable or held liable for any consequences thereof.
Investment products are not available to US persons, Residents of Canada and may not be available in all jurisdictions. By making any investment, you confirm your deemed acceptance to the conditions mentioned herein.
Investment products are distributed by Citibank N.A. on a non -discretionary and non participation basis. The final investment decision shall at all times exclusively remain with the investor.
Investor investing in investment products acknowledge that: (i) the third party product provider may invest in products denominated in non-local currency; (ii) there could be risk of exchange rate fluctuations, which may result in loss of principal or erosion of value of investment . This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a document or make such an offer or solicitation. Please exercise diligence by reading & understanding the Key Information Memorandum(s)/Scheme Investment Document(s) & Statement of Additional Information/Term Sheet/Prospectus carefully before investing and no claim whatsoever shall be made against Citibank N.A. any of its affiliates or subsidiaries and / or employees claiming any influence/recommendation/advice/responsibility/liability as against your decision to invest in any investment product.
Investor should ensure to understand, accept the identities of different parties and the roles that they play in relation to the various Investment Product(s). Investor acknowledges that, there may be various actual or potential conflicts of interest between Citibank N.A. India, Citigroup Capital Markets Ltd., Citigroup Inc. or their affiliates or subsidiaries (collectively “Connected Persons”) and that of an investor itself , as a result of the various investment and/or commercial businesses and/or activities of the Connected Persons. You are deemed to accept, on purchasing/ subscribing / investing to a particular Investment Product(s), that any such conflict may exist and may be prejudicial to an investment in the Investment Product(s).
Citibank N.A. provides no independent research or analysis in the substance or preparation of this report. The information in this report has been obtained from reports issued by Citigroup Global Markets and Citigroup Investment Research. Such information is based upon sources Citigroup Global Markets (CGM) / Citigroup Investment Research (CIR) believe to be reliable. CGM and / or Citibank N.A., however, do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute CGM's view as of the date of report and are subject to change without notice. This report / presentation is provided for general information only and nothing contained in the material constitutes a recommendation for the purchase or sale of any security and/or currency. As a prerequisite condition for arriving at a decision to invest, any investor considering an investment should seek independent advice on the suitability or otherwise of the particular investment.
5More than 90% of the calls are answered in 20 seconds or less. Answer time is measured from the time customers select the option to speak to the CitiPhone officer. Without taking on any liability for the same, Citibank, N.A, will make best efforts to answer your call within the answer time indicated above. In some cases or situations, the answer time indicated above may not be met. In such cases or situations, Citibank, N.A. will make best efforts to answer your call within the shortest time possible.
6List of participating countries:
- Argentina*
- Bahrain*
- Belgium*
- Brazil*
- Chile
- China*
- Columbia*
- Egypt*
- Greece*
- Guam*
- Hong Kong
- Hungary*
- India*
- Indonesia*
- IPB (Miami, NY, San Francisco)
- Japan
- Korea*
- Macau
- Malaysia*
- Maxico*
- Peru*
- Philipines*
- Poland*
- Singapore
- Spain*
- CzechRepublic*
- Taiwan
- Thailand*
- Turkey*
- UAE*
- UK*
- Uruguay
- USA*
- Venezuela*
- Vietnam
+A charge of $25 may be levied by certain Citibank branches for emergency cash assistance services. As per the extant FEMA regulations.
7Terms and conditions Apply. Subject to Citibank approval criteria.
Citibank Home Loans & Personal Loans - Terms and conditions apply. All loans are at the sole discretion of Citibank, N.A. Citibank reserves the right to ask for any additional documents from the applicant/borrower. Citibank reserves the right, at anytime, with notice, to add/alter/ modify/change or vary any of the Terms and conditions or to replace, wholly or in part. All products/facilities mentioned in this booklet are subject to Citibank Terms and conditions. Home loans are subject to necessary RBI and other local approvals.
Citibank Personal Loan - Terms and conditions Apply. Timelines mentioned include only working days.
What Is The Interest Rate Of Central Bank Of India
Timelines mentioned, if any, would commence once the entire documentation as per Citibank's requirements are submitted by the applicant. Subject to Citibank approval criteria. For detailed Terms and conditions, please refer www.citibank.com/india.
8The 10X points accrue on spends till Rs7,000 (or 560 points) per month in Apparel & Department stores. For spends beyond this, earn 1 point per Rs125. Identification of Apparel and Department Stores are based on MCCs (Merchant Category Codes) allotted by Visa and MasterCard.
Central Bank Of India Saving Account Interest Rate Singapore
Please allow upto 45 days post issuance of Citibank Rewards Credit Card, for crediting the bonus Reward Points.
9Citi Wealth Advisors is a retail business unit of Citigroup Global Markets India Pvt. Ltd (CGM). CGM and Citibank, N.A., are separate and distinct legal entities. This document only serves to make the reader aware of products and services available from Citi Wealth Advisors in CGM. This document does not constitute the distribution of any information, or the making of any offer, or a solicitation by anyone in any jurisdiction including in which such distribution, offer or solicitation is not authorized or to any person to whom it is unlawful to distribute information or make an offer or solicitation. Investments made through Citi Wealth Advisors in CGM, are not bank deposits or obligations or assurances of or guaranteed by Citibank, N.A., Citigroup Inc., or any of their respective affiliates or subsidiaries, are not insured including by any governmental agency, and are subject to investment risks, and market risks, including but not limited to the possible loss of the principal amount invested. Citi Wealth Advisors' products/services are available subject to applicable laws and regulations, only to Resident Indians in select cities in India and to Non Resident Indians in select markets, and are not available to US persons.
^These services are offered on referral and/or arrangement basis only through tie-up with respective service providers. It is to be noted that Citibank, N.A. is not making any of these Offers to you on its own, and that Citibank, N.A. holds no warranty & is not representative of the delivery, service, suitability or quality of any of the Offers or any products and/or services made available to you under any of the Offers. Any disputes regarding the delivery, service, suitability or quality of any of the Offers and/or products/services made available to you under any of the Offers must be addressed in writing, by you directly to the participating merchant establishment and Citibank, N.A. will not entertain any communication in this regard.
Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. iPhone® is a trademark of Apple Inc. AndroidTM is a trademark of Google Inc.
Citibank and Arc Design are service marks of Citibank, N.A., or Citigroup Inc., used and registered throughout the world.
Central Bank Of India Saving Account Interest Rate Calculator
Registration Numbers: NSE- INB/INF 231141335, BSE- INB/INF 011141331 Depository Participant Number: IN-DP-NSDL-268-2006 DP ID for NSDL: IN303245.