Interest on saving account
tushar
(Querist) 15 June 2013
This query is : Resolved
good day sir/madam
i had received less than 7 % interest on saving account and wish to protest against bank please advice,
also please suggest saving interest calculator if any to recheck from my end.
thanks and regards
tushar
Guest
(Expert) 15 June 2013
Which bank pays 7% interest om savings account and also how you are sure that bank's software for calculation of interest would be faulty, when you are still in search of savings interest calculator?
prabhakar singh
(Expert) 15 June 2013
You are among luckiest to receive around 7%(may be a little less)as INTEREST ON A SAVING BANK A/C.
WOULD YOU LIKE TO HELP ME DISCLOSING NAME OF THE BANK.
@Mr.Sethi!!
YES BANK ASKS TO MAINTAIN A CONTINUOUS credit BALANCE OF RS.1,00,000/00 to AWARD INTEREST AT SUCH RATE in SB a/c!
DOES NOT It MEAN a FD??
WHICH BANK MR. MAKKAD NAMES?
I am sorry!
Just now I can not use any new page for replies.
Shantilal Pandya
(Expert) 15 June 2013
Presently Interest on savings accounts might not be more than 3 and a half or 4 percent.
ajay sethi
(Expert) 15 June 2013
prabhakarsinghji .
YEs bank pays 7% interest rate on savings account . in addition for fixed deposits it offers higher interest rates .
Shantilal Pandya
(Expert) 15 June 2013
Suffice it to say that the rate of interest changes as per guidelines of RBI from time to time, thanks for correction
Rajendra K Goyal
(Expert) 15 June 2013
Reserve Bank of India vide its circular RBI/2011-12/233,DBOD.Dir.BC. 42 /13.03.00/2011-12 October 25, 2011, has issued instructions for deregulation the saving Bank interest rate.
Some Banks extends benefits of fixed deposit rate of interest in Saving Accounts and recover some interest penalty for withdrawals. Full Rules are to be seen for such offer to arrive at interest calculation.
Raj Kumar Makkad
(Expert) 15 June 2013
These days interest on saving bank accounts i not less than 7%.
ajay sethi
(Expert) 15 June 2013
nationalised bank offer lower rate of interest on savings acoount . only some pvt sector banks offer higher interest rate as mentioned herein above
Sudhir Kumar, Advocate
(Expert) 21 June 2013
can discuss across with bank. If not satisfied go to consumer forum
V R SHROFF
(Expert) 21 June 2013
Shri Prabhakarji,
can opt Flexi Deposits [ Saving cum Fixed]
Sr Citizen can get upto 10% p a with facility to withdraw whole or part there of
[555 days plan ]
Seems YES BANK pay higher int [+ 0.75% more for Sr. Citizen]
