Yes bank lowers saving bank interest rate to 5%

From 1st Sept 2017 Yes bank is lowering interest rate for saving bank customers,

  • Deposit less than 1 lac : 6% 5%
  • Deposit 1 lac to 1 crore : 6% unchanged
  • Deposit above 1 crore : 6.5% 6.25%

This is the trend following extra liquidity in banks after demonetisation.

Sbi has reduced interest rates last month on saving bank deposit of less than 1 crore from 4% to 3.5%

HDFC also reduced interest rates on savings account with less than Rs.50 lakh deposit.

Same with PNB which moved on SBI steps. Reduced interest rate on deposit below Rs.1 crore to 3.5%.

Axis bank is same with 3.5% on deposit below 50lacs and same is with Bank of Baroda.

Karnataka Bank has gone step further with interest rate of 3% below 1lac & 3.5% for 1 lac to 50 lac balance.

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