W.e.f. August 19,2017 , interest for all rupee savings accounts will be calculated on the daily closing balances maintained in the account. Interest will be paid at 4% per annum ( for end of day balances equal to or above INR 50 lacs ) and 3.50% per annum (for end of day balances below INR 50 lacs). Interest so calculated is rounded off to the nearest rupee, ignoring fractions of a rupee.
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