Interest shall be paid on SB Account at 3.50% (for balances up to Rs.50 lacs) & 4.00 % p.a, (for balances above Rs.50 lacs), calculated on daily product basis and will be credited in the SB A/c quarterly in the months of May, August, November and February, respectively every year or at the time of closing of the SB A/c. Interest will be credited if it is Minimum Re.1/- . Invariably, interest shall be credited on regular basis in SB account irrespective of the operational status of the account. Quarterly interest payment will be effective from May 2016.
Any change/ revision in interest rate on Savings Bank Deposits shall be notified to the customers through Bank’s website i.e. www.bankofindia.co.in
Saving Bank Deposit Rates
Interest : 3.50% (for balances up to Rs.50 lacs) & 4.00 % p.a, (for balances above Rs.50 lacs), calculated on daily product basis