Private sector bank revises interest rates on Savings account

Mumbai: Major Private sector bank in the country, HDFC Bank has revised rate of Interest for Savings Bank deposits Accounts. The bank informed that the interest will be calculated on the daily balances maintained in the Savings account and interest will be paid at quarterly intervals.

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As per the statement issued by HDFC Bank, rate for balances up to Rs 50 lakh will be 3%, for balances above Rs 50 lakh but up to Rs 1000 crore, the rate will be 3.50%.  For savings account with balance with Rs 1000 crore and above the rate will be 4.50%.