For savings account balance up to ₹2 lakh, an interest rate of 3.5% per annum shall apply. For incremental balance above ₹2 lakh up to ₹5 lakh, an interest rate of up to 4% per annum will be applicable for the number of days the incremental balance is maintained. Similarly, for incremental balance above ₹5 lakh, an interest rate up to 5% per annum will be applicable for the number of days the incremental balance is maintained.
Interest is calculated on the daily end of the day balance and applicable interest as per slab is applied.