This bank offers up to 7.5% interest rate on savings accounts

After the revision, the bank will offer interest rates ranging between 4 percent and 7.50 percent on savings accounts. According to the ESAF website, “Interest on Savings Bank accounts will be calculated on end of the day balance and credited to the accounts on a monthly basis.”Savings account interest rates The bank is offering 4% savings account interest rate on accounts with balances up to and including Rs. 5 lakh. Savings accounts with over Rs. 5 lakh and up to and including Rs. 15 lakh balance will earn interest at a rate of 5.50 percent. For savings accounts with balance over Rs. 15 lakh and up to Rs 50 lakh the bank will now offer a maximum interest rate of 7 percent. ESAF offers higher savings account interest rate of 7.50% on amounts above Rs.50 lakh.

Savings Bank Account- SlabRate of Interest effective from 01st July 2023Up to and including Rs.5 lakh4.00%Above Rs.5 lakh up to and including Rs.15 lakhs (i.e. for incremental amount above Rs.5 lakh)5.50%Above Rs.15 lakh up to and including Rs.50 lakhs (i.e. for7.00%incremental amount above Rs.15 lakh)Above Rs.50 lakhs (i.e. for incremental amount above Rs.507.50%lakhs) ESAF fixed deposit interest rates

ESAF Small Finance Bank is currently offering interest rates on fixed deposits maturing in 7 days to 10 years that range from 4.00 percent to 8.50 percent for the general public. Senior citizens can earn the highest interest rate 9% on tenure of 2 years to less than 3 years.

PeriodRate of Interest effective from 14/04/2023Normal Rate (%)Rate for Senior Citizens (%)7 days to 14 days4.00%4.50%15 days to 59 days4.50%5.00%60 days to 90 days5.00%5.50%91 days to 182 days5.25%5.75%183 days to 1 year6.00%6.50%1 year 1 day to less than 2 years8.00%8.50%2 years to less than Read more on economictimes.indiatimes.com