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Bank interest rates on Savings AccountIDFC FIRST Bank's Savings Accountis our testament to putting our customers first. We offer one of the industry’s best savings account interest rates of up to 6% p.a. This extra income is bound to open up a world of opportunities for you. Now you can take that holiday, go shopping or splurge on a lavish meal with your loved ones. As our customer, you can now truly earn more and do more.Read More What's more, you earn this interest on progressive balances in each interest rate slab, as applicable. That means you earn every single day. We pay out this interest every month. Hurry and make the most of this unique opportunity.Read Less Savings Account Interest Simulator
IDFC FIRST Bank's Savings Account Interest rates table
Interest will be calculated on progressive balances in each Interest Rate Slab, as applicable Please note that interest rates are subject to periodic change. How is the Savings Account Interest Rates Calculated
For Example: 1. In case your account balance with us is Rs. 25,000, the interest payable to you will be 4% on the entire Rs. 25,000. 2. In case your account balance with us is Rs. 5 lacs, the interest payable to you will be 4% on Rs. 5 lacs. 3. In case your account balance with us is Rs. 1.10 crores, the interest payable to you will be 4% on Rs. 10 lacs, 6% on Rs. 1 crore. 4. In case your account balance with us is Rs. 5.3 crores, the interest payable to you will be 4% on Rs. 10 lacs, 6% on Rs. 5.2 crore. Please note that interest rates
are subject to periodic change. Get in touch with usHow does interest work on a savings account?When you earn interest in a savings account, the bank is literally paying you money to keep your cash deposited there. Savings accounts earn compound interest, which means the interest you earn in one period gets deposited into your account, and then in the next period, you earn interest on that interest.
Which bank gives 7 interest on savings account?Equitas Small Finance Bank is giving a maximum interest rate of 7% on savings bank deposits of above ₹5 lakhs and up to ₹2 crores as of March 21, 2022.
How much interest does 10000 earn a year?Currently, money market funds pay between 0.85% and 1.05% in interest. With that, you can earn between $85 to $105 in interest on $10,000 each year.
Do you earn interest monthly in a savings account?With most savings accounts and money market accounts, you'll earn interest every day, but interest is typically paid to the account monthly.
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